A guide to NSIC Registration, Documents for NSIC Certificate, and Fees for NSIC Registration in India

The National Small Industries Corporation, or NSIC, is a government-owned company that falls under the Ministry of Micro, Small, and Medium Enterprises (MSME). NSIC operates numerous schemes such as Single Point Registration for Government Purchases, Marketing Support, Performance and Credit Rating Scheme for Small Industries, and more to help promote, aid, and encourage the growth of MSME firms in India. In this article information NSIC Registration, Documents required for NSIC Certificate and Registration fees is mentioned.

Introduction

The National Small Industries Corporation Limited (NSIC) is a government-owned corporation that was founded in 1955. NSIC is classified as a Micro, Small, and Medium Enterprise (MSME). NSIC is now a well-known Mini Ratna Public Sector Undertaking (PSU).

Enterprises with an MSME or Udyog Aadhaar registration can apply online or in person at one of the NSIC locations to get registration. Following receipt of the application, the NSIC sends it to the nearest regional, branch, or sub-branch office to complete a technical inspection of the unit and forward a recommendation for NSIC registration. NSIC registers the MSME unit after getting the inspection report.

Advantages of NSIC Certificate 

• MSMEs that register under this scheme are eligible to participate in international trade and a variety of government-sponsored conferences. Small-scale industries will be notified of this as well.
• MSME that register under the NSIC system would gain access to cutting-edge technology. MSME would be introduced to digitization, and technical advancements would be learned through these displays.
• The NSIC contributes to skill development among diverse persons who are involved in MSME growth because entrepreneurship is promoted at a national level.
• The requirement of putting some type of earnest money is waived for any MSME and SSI registered under this plan.

Eligibility Criteria for NSIC Registration

Before applying for NSIC registration, the applicant must meet certain qualifying requirements.

• All Micro Enterprises with a plant and machinery investment of up to INR 25 lakhs and a service sector investment of up to INR 10 lakhs, OR
• All small businesses with an investment in plant and machinery of up to INR 5 crores, or in the service sector with an investment of up to INR 2 crores, OR all small businesses with an investment in plant and machinery of up to INR 5 crores, OR all small businesses with an investment in plant and machinery of up to INR 5 crores
• MSME certificate holder.
• MSMEs that has completed 1 year of business commencement.

Note: The Provisional Registration Certificate will be provided to MSEs that have not completed one year of business operation under the Single Point Registration scheme.

Documents required for NSIC Registration in India

• MSME Registration Acknowledgement Copy.
• Details about plant and machinery, as well as raw materials, along with their initial purchase price.
• A self-attested copy of the premises’ ownership paperwork or a copy of the lease deed.
• Performance details.
• Declaration/certificate from the owner, partner, or director, stating whether they have any ties to a large-scale operation.
• A list of the raw materials and finished commodities that are currently in stock.
• If applicable, a copy of the BIS licence.
• ISO 9000 replica (Optional).
• Details of technical individuals who work in production and services.
• Copy of the most recent electric bill.
• Quality Control Statements.
• For the previous three years, an audited balance sheet, trading account, and profit and loss account have been signed by the authorised person under his seal.
• Statement detailing the results of operations for the previous three years, officially signed and sealed by a Chartered Accountant.
• A bankers’ report detailing the applicant firm’s financial situation is required.
• Registrar of Firms copy of Permanent Account Number (PAN) Partnership Deed giving the names of the partners.
• MOA and AOA.

Process for NSIC Certificate in India

Enterprises that are MSME-registered or have an Udyam Aadhar number are eligible for NSIC (National Small Industries Certificate) registration. A registered MSME with an Udyam Aadhar number can apply for NSIC registration online. MSMEs must fill out an application form and submit it along with the appropriate papers to the nearest NSIC regional or branch office in order to obtain the NSIC certificate.

Below is the step by step process for acquiring NSIC Certificate:

• Visit to the NSIC Portal for NSIC Registration.
• MSMEs must register in MSME Data Bank using their UAM (Udyog Aadhar Memorandum) number and PAN to become Single Point Registration Applicant.
• PAN and UAM numbers should be used to fill in the required details on the application form.
• The application form, as well as the required documentation, must be submitted by the applicant.
• To receive the NSIC certificate, you must pay a fee.
• The NSIC certificate will be mailed once the payment has been received and confirmed, and the authority has verified the documents.

Fees for NSIC Registration

The total charges for NSIC registration are calculated based on the business’s turnover as reported in the most recent audited financial statements. In addition, the NSIC registration fees are separated into three parts: inspection fees, registration fees, and professional fees, as shown below:

• National Small Industries Corporation Registration Fees

  • Less than Rs.1 Crore Turnover

Micro businesses with a turnover of less than INR 1 crore pay a fee of Rs.3000, while small businesses with a turnover of less than INR 1 crore pay a fee of INR 5000.

• • More than Rs.1 Crore Turnover

Micro businesses with a turnover of more than INR 1 crore are charged a fee of INR 3000 plus INR 1500 for each additional crore of turnover. A fee of INR 5000 is imposed to small businesses with a turnover of less than INR 1 crore, plus INR 2000 for each crore of additional turnover. The registration fee cap has been established at INR 1 lakh.

• Inspection Charges for NSIC Registration

MSME businesses must also pay inspection fees, which are determined by the inspecting agency, in addition to the registration fee. Inspection fees for micro and small businesses are set at INR 2000 and INR 3000, respectively.

• NSIC Registration Professional Fees 

Finally, the MSME unit must pay RITES Limited and Consultancy Development Centre a professional charge for the physical inspection. Professional fees for micro and small businesses are fixed at INR 6000 for micro companies and INR 8000 for small businesses.

Conclusion

The NSIC registration certificate is only valid for two years. As a result, every two years, the certificate of NSIC registration will be examined and rechecked. The same is done to examine and check the registered MSEs’ commercial and technical competence. The Provisional NSIC Registration Certificate, on the other hand, is only valid for one year.