Learn about Udyog Aadhar its benifites and registration process
Posted: Thu Oct 25, 2018 3:48 pm
Udyog Aadhar is a unique twelve-digit identification number provided by the Ministry of MSME for micro, small and medium enterprises to register themselves as MSME.
In simple words, Udyog Aadhar is an Aadhar for your organization that enables you to take advantage of several benefits that help you grow your business.
Earlier, Micro, Small and Medium Enterprise (MSME) owners had to go through a lot of paperwork. To simplify the whole process, the Government of India initiated the Udyog Aadhar registration process which replaced eleven (lengthy) forms with just two.
Almost all types of businesses - Hindu Undivided Family (HUF), one-person company, Proprietorship, Production company, Partnership firm, Limited company, Co-operative societies, Limited Liability partnership, any other undertaking or associations of person can apply and obtain Udyog Aadhar. However, every entity has to meet the given set of criteria in order to be classified as a micro, small, or a medium enterprise.
GST stands for Goods and Services Tax. Earlier, there were several different taxes levied on goods and services. The Government of India has replaced all other (indirect) taxes with a single tax i.e. GST. It was passed by the Parliament in July and is a comprehensive tax that is levied on every value addition.
In other words, GST is an indirect tax levied by the government on the supply of goods and services. This tax law is not limited to any particular state and prevails in the entire country.
E-way bill:-.An e-way bill is a document that a person in charge of a conveyance carrying any consignment of goods of value exceeding Rs 50,000 is required to carry. It is a mandatory document that is generated from the GST Common Portal by registered persons or transporters who undertake movement of goods.
In simple words, Udyog Aadhar is an Aadhar for your organization that enables you to take advantage of several benefits that help you grow your business.
Earlier, Micro, Small and Medium Enterprise (MSME) owners had to go through a lot of paperwork. To simplify the whole process, the Government of India initiated the Udyog Aadhar registration process which replaced eleven (lengthy) forms with just two.
Almost all types of businesses - Hindu Undivided Family (HUF), one-person company, Proprietorship, Production company, Partnership firm, Limited company, Co-operative societies, Limited Liability partnership, any other undertaking or associations of person can apply and obtain Udyog Aadhar. However, every entity has to meet the given set of criteria in order to be classified as a micro, small, or a medium enterprise.
GST stands for Goods and Services Tax. Earlier, there were several different taxes levied on goods and services. The Government of India has replaced all other (indirect) taxes with a single tax i.e. GST. It was passed by the Parliament in July and is a comprehensive tax that is levied on every value addition.
In other words, GST is an indirect tax levied by the government on the supply of goods and services. This tax law is not limited to any particular state and prevails in the entire country.
E-way bill:-.An e-way bill is a document that a person in charge of a conveyance carrying any consignment of goods of value exceeding Rs 50,000 is required to carry. It is a mandatory document that is generated from the GST Common Portal by registered persons or transporters who undertake movement of goods.