Udyam Registration in Jharkhand is a new digital registration launched by the Ministry of MSME (Micro, Small, and Medium Enterprises) of the Government of India. It is the digital version of the old Udyog Aadhaar and provides a permanent ID number to micro, small, and medium enterprises operating in Jharkhand to avail of benefits from banks, government schemes, and tax exemptions.
What is Udyam Registration in Jharkhand?
Udyam Registration in Jharkhand is the official government registration system for Micro, Small, and Medium Enterprises MSMEs in Jharkhand, India. Businesses that register under this system receive a unique Udyam Registration Number (URN) and a government-issued certificate known as the Udyam Certificate. This certificate acts as proof of MSME status and makes the business eligible for various government schemes and benefits in Jharkhand.
The key objective behind Udyam Registration in Jharkhand is to:
- Simplify the MSME registration process
- Provide a single digital identity to small businesses in Jharkhand
- Promote ease of doing business in Jharkhand
- Enable MSMEs in Jharkhand to access benefits with minimum paperwork
Who Can Qualify for Udyam Registration Benefits in Jharkhand?
Any individual or entity engaged in business activities in Jharkhand can qualify for Udyam Registration benefits, provided they meet the MSME classification criteria. The following types of business structures in Jharkhand are eligible:
- Proprietorship Firms
- Hindu Undivided Families (HUF)
- One Person Companies (OPC)
- Partnership Firms
- Limited Liability Partnerships (LLP)
- Private Limited Companies
- Public Limited Companies
- Cooperative Societies
- Any Association of Persons (AOP)
Startups in Jharkhand can also apply for Udyam Registration as long as they fall within the MSME limits.
Documents Required for Udyam Registration in Jharkhand
The best part about Udyam Registration in Jharkhand is that no document upload is required. The process is based entirely on self-declaration.
- Aadhaar Card: The Aadhaar number of the proprietor, managing partner, Karta, or authorised signatory, depending on the business in Jharkhand type.
- PAN Card: The permanent account number of the enterprise (or proprietor for a proprietorship in Jharkhand).
- Business Bank Account Details: Account number, IFSC code, and bank name.
- Business Address Proof: Such as a utility bill, rental agreement, or property tax receipt of the Jharkhand business address.
Other information needed
- GST Number (if applicable): Required if your business in Jharkhand is mandatorily registered under GST.
- Business Commencement Date: The date the business started in Jharkhand.
Udyam Registration Jharkhand process
- Step 1: Go to official website
- Step 2: Fill in your Aadhaar no, name as per Aadhaar, and click on “Validate & Generate OTP”
- Step 3: PAN Verification
- Step 4: Filling out the Udyam registration form.
You can also contact us for udyam registration form in our website. We provide service in Jamshedpur, Ranchi, Dhanbad, Bokaro and other all other cities in Jharkhand.
Important considerations
- The Udyam registration portal automatically fetches PAN and GST details from the government database, so you must provide your GSTIN if your Jharkhand business is legally required to have one.
- Attempting to register without a GST number when one is mandatory can lead to penalties.
- If you are not currently required to have a GST number, you can register for Udyam in Jharkhand first and then obtain your GST registration later when your business grows to meet the threshold.
Benefits of Udyam Registration in Jharkhand
1. Financial benefits
- Easier access to credit: Get loans at lower interest rates with easier and faster approvals, and be eligible for collateral-free loans through the Credit Guarantee Fund Scheme for business in Jharkhand.
- Working capital support: Loans and overdraft facilities help Jharkhand MSME manage operational expenses and bridge cash flow gaps.
- Tax benefits: Enjoy concessions like a reduced tax rate and, in some cases, exemption from GST for Jharkhand businesses with a turnover below the prescribed threshold.
- MAT credit: Carry forward the Minimum Alternate Tax (MAT) credit for up to 15 years, instead of 10.
Procurement and marketing benefits
- Government tenders: Get priority access and waivers on security deposits when applying for Jharkhand and central government tenders and through the Government e-Marketplace (GeM) portal.
- Subsidies for certifications: Receive reimbursement for ISO certification costs.
- International trade support: Participate in government-organised international trade fairs and exchange programs representing Jharkhand MSME.
Income tax benefits
- Income tax exemption: Businesses in Jharkhand can be eligible for income tax exemptions on profits for the first few years of operation, sometimes under specific sections like 80J of the Income Tax Act.
Transition from Udyog Aadhaar to Udyam in Jharkhand
The Government of India started Udyam Registration to replace the old Udyog Aadhar system and make it easier for small businesses (MSMEs) in Jharkhand to register. With this new system, any business in Jharkhand can register quickly and easily. It saves time and effort for business owners.
