➢ UDYAM Registration

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➙ Udyam registration is a kind of e-certification which is provided to MSMEs by the government of India. It is purely based on an online system, which was launched by the Union Ministry of MSMEs.

➙ Here, under this registration, the MSMEs are provided with a unique identity number along with a recognition certificate. This certificate certifies these enterprises as “MSMEs” and also offer plenty of benefits which fall under MSMEs businesses category in India.

➢ Eligibility of Udyam Registration

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➙ The enterprise must be either micro, small or medium entities.

➙ The benefits depend upon the total turnover of MSMEs. For instance, the micro enterprises with turnover up to INR 5 crore are eligible for registration and its benefits. And, small enterprises with annual turnover from INR 5 crore to INR 75 crore and medium enterprises up to INR 250 crore annual turnover are eligible for benefits.

➙ Like turnover, investment of MSMEs is also crucial. For instance, to be eligible for the benefits and registration, the micro enterprises should not have an investment of more than INR 1 crore, small enterprises and medium enterprises investment must not exceed INR 10 crore and INR 50 crore respectively.

MSME Category	Annual Turnover (INR)	Investment (INR)
Micro Enterprise	5 crore	Upto 1 crore
Small Enterprise	5 crore-75 crore	Upto 10 crore
Medium Enterprise	25 crore- 250 crore	Upto 50 crore

➢ Benefits of Udyam Registration For MSMEs

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➙ Get access to collateral free loans from banks and financial institutions.

➙Easy access to multiple registrations and licenses.

➙ Concession rate on various utility bills such as electricity bills.

➙ Get more time for paying off delayed payments.

➙Subsidy and low interest rates offered on bank loans.

➙Subsidy offered on patents and barcodes.

➙ Subsidy on credit rating.

➙ Special exemptions under all kinds of direct taxes.

➙ISO Certification charges would be reimbursed.

➢ IEC (Import Export Code)

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➙ IEC (Import Export Code) is required by anyone who is looking to kick-start his/her import/export business in the country. It is issued by the DGFT (Director General of Foreign Trade). IEC is a 10-digit code that has lifetime validity. Predominantly importer merchants cannot import goods without the Import Export Code and similarly, the exporter merchant cannot avail benefits from DGFT for the export scheme, etc., without IEC.