Eligibility
Proprietorships, Hindu Undivided Family (HUF), Partnership Firm, One Person Company, Private Limited Company, Limited Company, Producer Company, Limited Liability Partnership, any association of persons, co-operative societies, or any other undertaking can obtain MSME Udyam Registration in India.
Benefits of MSME-Udyam Registration
MSMEs Get Benefits From Bank: After the introduction of Udyam registration, all banks and even financial institutions are prioritizing micro, small and medium-sized business enterprises and making special plans for them. MSMEs can easily get a business loan at a very lower interest rate, Upto 1.5 percent lower than interest on regular business loans.
Amazing Tax Benefits: Business owners can enjoy remarkable tax benefits, tailored to their specific industry. They may be eligible for exemptions from excise duties and can also receive direct tax exemptions during the initial years of their business.
Benefits of Electricity Bills: Small business owners who are registered on the Udyam portal can avail certain discounts on their monthly electricity bills, allowing them to conserve their resources and save costs.