Online NSIC Registration Procedure and Charges

1. Online NSIC Registration Procedure and Charges Do you know why you must obtain NSIC registration if you fall under MSME categories? NO? Well! Don't worry. Our prime purpose of writing this blog is to educate you on registration under NSIC and the benefits it offers. So let's begin with the introduction- Meaning of NSIC NSIC stands for National Small Industries Corporation, and the main aim of this corporation is to promote, foster, and support the products of Small and Micro Entrepreneurs. To promote the products and services of SMEs, the government of India has launches various schemes under NSIC as follows: Consortia and Tender Marketing Scheme; Single Point Registration Scheme; Credit Rating Scheme and Performance for Small Industries; Financing for Raw Material Procurement; etc. Benefits of NSIC Registration under Single Point Registration Scheme As described above, there are quite a large number of registration schemes under NSIC promoted by the Government of India. But most of the NSIC Registration takes place through the Single Point Registration Scheme. Reasons for the same are described below as the benefits offered: Exemption from EMD EMD stands for Earnest Money Deposit. Firms registered under NSIC through Single Point Registration Schemes don't have to pay for EMD. Benefits of Tender Participation In tender participation, the participating MSEs quoting price band of L1+15 percent is also allowed to supply a portion up to 20% of the requirement by

2. Online NSIC Registration Procedure and Charges bringing down their price to L1 price where L1 is Non-MSEs (Micro and Small Enterprises). Procurement from MSEs Every PSUs or Departments or Central Ministries set an annual objective of a minimum 20 % of the total annual purchases of the products/services produced or rendered by MSEs. From the annual requirement of 20% procurement from MSEs, 4% is allocated for units owned by Schedule Caste/Schedule Tribes. Free of cost tender info Tender Sets are issued free of cost. Furthermore, 358 items are also reserved for exclusive purchase from SSI Sector. Apart from these, there are several advantages that NSIC offers. Therefore, if you're operating your business as MSME, then do it get it registered as NSIC to avail a plethora of distinctive benefits. Procedure for NSIC Registration in India There's quite a simple procedure for registering your business under NSIC. The steps involved are as follows: Step1: Register your company under MSME Yes, the very first step to NSIC registration is to obtain registration under MSME (Micro Small Medium Enterprises), or the applicant must hold Udyog Aadhaar Registration. Only then the applicant would be eligible to register his business as NSIC. Step2: File an online application Once you have obtained MSME registration, you can file an online application along with the requisite fees on the NSIC's official website. Step3: Inspecting agency will perform technical inspection

3. Online NSIC Registration Procedure and Charges An identical copy of the registration form will be sent to the concerned inspecting agency. The agency will carry out the technical inspection. Step4: Issuance of a registration certificate Once NSIC receives the technical report and finds it valid, it will issue the registration certificate. Charges for NSIC Registration The total NSIC registration charges depend on the turnover of the business as per the latest audited financial statements. Moreover, the registration charges are divided into three parts namely- 1.Registration charges, 2.Inspection Fee, and 3.Professional fee. S.N. Category 1 Fee for Fresh Registration of Micro & Small Enterprises: a)Turnover up-to Rs. 1 crore b)Turnover more than Rs. 1 crore Fee a)Turnover up to Rs. 1 crore 1.For Micro Enterprises: Rs. 3000/- 2.For Small Enterprises: Rs. 5000/ b)Turnover surpassing Rs. 1 crore 1.For Micro Enterprises: Rs. 3000/-+ Rs. 1500/- for every additional turnover of Rs. 1 crore 2.For Small Enterprises: Rs. 5000/-+ Rs. 2000/- for every additional turnover of Rs. 1 crore With a capital of Rs. 1 Lakh for all categories 1.For Micro Enterprises: Rs. 2000/ 2.For Small Enterprises: Rs. 3000/- 1.For Micro Enterprises: Rs. 6000/ 2.For Small Enterprises: Rs. 8000/- 2 Inspection Fee 3 Professional Fee

4. Online NSIC Registration Procedure and Charges Conclusion One can conclude from the above discussion that NSIC registration is pretty advantageous for all Micro, Small, and Medium Enterprises. Hence, if you have made up plans for registering your business under MSME, then visit Enterslice.