Tax Benefits and Exemptions:-

MSMEs registered with Udyam can carry forward (MAT) Minimum Alternate Tax up to 15 years (earlier which was only 10 years and) get rebates on direct taxes. That will reduce the operational cost of business.

Rebate from State Government:-

Small Business registration with Udyam gives access to rebates by both the Central Government and State Government. That rebates going to save more on setting up the business. There is some state government offering subsidies on electricity bills for Udyam registered businesses that’s going to help to reduce operational cost.           

Simplified Tax and Compliance-

Udyam registration makes tax filing and regulatory compliance easy, especially when databases integrate with GST and PAN. Being a registered MSME helps in financial tracking, better organization and also better coordination with tax consultants

Support available for Diverse Business Types

Udyam Registration inclusively covers proprietorships, partnerships, (HUF) Hindu Undivided Families, trusts and societies and also manufacturing service retail and wholesale This wide range of eligibility ensure that all small businesses, including startups and women/ST/SC entrepreneurs, can be benefited. This scheme provides loans up to Rs2 Crore for first-time  entrepreneurs

It’s Not Mandatory but Highly Recommended

While Udyam Registration is not compulsory, its benefits can help small businesses especially for those looking for a larger market. It has a digital process which ensures accessibility. It has a zero processing fee and its lifetime validity elements burden of compliance.  

You can use this website for udyam registration https://udyamgov.com/