Udyam is a new classification system introduced by the Indian government for micro, small, and medium enterprises (MSMEs) to simplify the registration process and provide easier access to benefits and subsidies.
In a company, Udyam registration is mandatory for businesses that meet the criteria for classification as a micro, small, or medium enterprise. To obtain Udyam registration, a company needs to provide basic information such as its name, address, nature of business, and annual turnover, among others. Having a Udyam registration can provide a number of benefits to a company, including access to government subsidies and schemes, easier loan access, and tax benefits, among others. It can also help to establish the credibility of the company and make it easier for the company to do business with other organizations.
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