UAM To Udyam Registration
Those enterprises registered with Udyog Aadhar can re-register from UAM to Udyam registration. As per the Indian Government’s notification, all existing MSMEs registered under the Entrepreneur Memorandum EM-II or Udyog Aadhaar have to re-register themselves under Udyam registration.
What is Udyam Registration
Udyam registration is the latest form for MSME business registration according to a new government notification. It is a simplified procedure for the online registration of MSMEs. This process has replaced the Udyog Aadhar which was the old procedure for the registration of the MSMEs.
What is Udyog Aadhaar Memorandum (UAM)
The Udyog Aadhaar Memorandum (UAM) is a one-page registration form that helps MSMEs register themselves and self-certify all business details like a bank account, promoter details, etc. The UAM replaced the EM-I & EM-II registration which was required to get the benefits of MSME schemes. After the registration with the Udyog Aadhaar, the Udyog Aadhaar Number was issued to the MSMEs which could be used to access the other services offered by the government for the MSMEs.
Udyam Registration Certificate
The MSMEs that have registered with Udyam will get the Udyam certificate which contains the unique identification number. This unique identification number would help the MSMEs get benefits under various MSME schemes.
Why do you need to register from UAM To Udyam?
Once you have registered your enterprise from UAM to Udyam you can access many government schemes. These are the various benefits offered by the government-
Collateral-free loans– The registered MSMEs can easily access credit from the various Banks without collateral/ mortgage. The guarantee cover on such loans will be provided by the government to financially assist the MSMEs in getting credit for their daily cash/ capital requirements.
Excise and direct tax deductions– After the revised budget plan for the financial year 2020-21 the MSMEs that fulfill the criteria of the threshold for exemption from the payment of taxes do not need to pay the taxes.
Subsidy on energy bills– Small-scale enterprises can get subsidies on power bills for their business. Haryana Bijli Vitran Nigam is one such example of power subsidies provided by the government for MSMEs.
Reimbursement on registration fees of trademark & patent– The MSMEs can get reimbursement on the fees of trademark and patent under the scheme of Spreading Awareness of Intellectual Property Rights.
Exhibitions and workshops– The government sponsors domestic & international exhibitions & workshops for small Entrepreneurs for skill development and encouraging entrepreneurship among the budding entrepreneurs. These exhibitions help entrepreneurs in networking and promoting their products.
Protection from delayed payments– The MSMEs can easily file their complaints related to delayed payments on the online platform i.e., e-Samadhan. The platform also has the facility of tracking complaints.
Access to GeM– The Udyam platform is integrated with other platforms such as GeM where small entrepreneurs can easily buy/ sell their products. GeM is a wide online marketplace where government authorities can directly buy goods/ services from the sellers on GeM.
Preference in getting government tenders– The government gives preference to the MSMEs for giving the government tenders. The enterprises registered with Udyam can easily get government bids without the need to pay the bid security money for participation.
Subsidy on NSIC registration– There is a special discount on the registration of NSIC for the MSMEs registered with Udyam. The NSIC is a credit rating agency that can help you know the creditworthiness and credit risks involved in the business. The NSIC also sponsors various development schemes and provides various skill development services and material testing facilities to encourage competitiveness among the MSMEs.
Relief from Tax Audit– The MSMEs can get relief from paying the taxes. As per the Union Budget 2020, the MSMEs with a turnover of less than Rs. 5 crores are exempt from the burden of tax audits.
Technology up-gradation support– The Ministry of Micro, Small, and Medium Enterprises provides technological and quality up-gradation support to the MSMEs to encourage them to use Energy Efficient Technologies thereby implementing environment-friendly technologies and reducing the cost of production.
Documents Needed To Register from UAM to Udyam
These are the documents that are required for an enterprise to get registered from UAM to Udyam:
- Previous UAM number
- PAN card
- Aadhar number as provided by the UIDAI
Process To Register from UAM to Udyam(Re-Registration)
Here is the process to migrate from UAM to Udyam registration. You just have to follow the below steps:-
Step 1: First of all, click on Udyam re-registration.
Step 2: Then, enter the necessary details in the udyam re-registration form.
Step 3: Make sure the necessary details provided by you are correct and make the online payment for the registration process.
Step 4: Our professional executives will process your application.
Step 5: Later, you will receive the Udyam certificate at your registered email address.
Conclusion
Now, you must understand that you need to re-register from UAM to Udyam registration to enjoy the benefits of the Udyam. You can update your enterprise registration from UAM to Udyam with your UAM registration number.
The Udyam registration is an easy and online process for MSME(Micro, Small, and Medium Enterprises). There are several schemes in Udyam registration such as subsidies, reimbursement of registration fees, protection against delayed payment, collateral-free loans, etc. Register with Udyam to enjoy the benefits of Udyam registration.
Why Us?
We are a team of experienced consultants who help startups and entrepreneurs register their companies under MSME. We are continuously working on making the process easy and simple for entrepreneurs who want to register their businesses.
So with udyamsregistration.org you can get your Udyam certificate and avail the various benefits provided by the government. If you still face any difficulty our experts will assist you. You can also click on our inquiry form provided on the site to get in touch with our expert.
FAQ
How to migrate UAM to Udyam registration?
You can easily migrate from UAM to Udyam registration by providing your old Udyog Aadhar number and filling out the form for re-registration.
Is UAM and Udyam same?
No, UAM and Udyam are not the same. The UAM i.e. Udyog Aadhar Memorandum is the old process for the MSME registration. The Udyam registration is the updated and easy procedure for government registration of the Micro, Small, and Medium Enterprises that have direct benefits under various schemes initiated by the government.