NSIC Registration – Charges and Procedure
NSIC Registration – Charges and Procedure
NSIC or National Small Industries Corporation is a Government of India enterprise under the Ministry of Micro, Small and Medium Enterprises (MSME). NSIC helps promote, aid and foster the growth of MSME businesses in India by operating various schemes like Single point Registration for Government Purchase, Marketing Support, Performance and Credit Rating Scheme for small industries and more. In this article, we review the procedure for obtaining NSIC registration in India along with the charges.
Registration Procedure
The total charges for NSIC registration are based on the turnover of the business as per the latest audited financial statements. Further, the NSIC registration charges can be divided into three parts namely – registration charges, inspection fee and professional fee as under:
Registration Charges
There is no formal process of conversion. One can start a private limited company and transfer all the assets and liabilities of the proprietary concern to the company. The new company has to obtain registrations under GST, PAN, TAN, Shops act, Profession Tax separately.
Registration Fee
The NSIC charges the following fee for new registration based on turnover and MSME classification.
Less than Rs.1 Crore Turnover: Microenterprises having less than Rs.1 crore turnover are charged a fee of Rs.3000, while small enterprises having a turnover of less than Rs.1 crore are charged a fee of Rs.5000.
More than Rs.1 Crore Turnover: Microenterprises having more than Rs.1 crore turnover are charged a fee of Rs.3000 plus Rs.1500 for each crore of additional turnover. Small enterprises having a turnover of less than Rs.1 crore are charged a fee of Rs.5000 plus Rs.2000 for each crore of additional turnover. The total cap on the registration fee is set at Rs.1 lakh.
Inspection Charges
In addition to the registration fee, MSME enterprises must pay for inspection charges, as decided by the inspecting agency. The inspection charges are set at Rs.2000 for micro-enterprises and Rs.3000 for small enterprises.
Professional Fee
Finally, the MSME unit must pay professional fee to RITES Limited and Consultancy Development Centre for undertaking physical inspection. Professional fee are set at Rs.6000 for micro enterprises and Rs.8000 for small enterprises.
Documents Required
The following documents are required for obtaining NSIC registration in India:
- Copy of Acknowledgement of MSME registration
- Details of of plant & machinery and raw material with original purchase price
- Performance Statement
- Self-attested copy of ownership documents of the premises or copy of lease deed.
- Declaration/Certificate from the Proprietor/Partner/Director whether or not they have any link with large scale unit(s).
- List of raw materials and finished goods in stock.
- Copy of BIS license, if applicable.
- Copy of ISO 9000 (Optional).
- List of technical personnel employed in production and services.
- Item for which registration required with detailed specification(s)
- Write-up on quality control measures adopted by the firm for ensuring quality of raw material, bought out item (s) for assembly and sub assembly and for products/stores in process and the finished products quality control
- List of quality control equipment and testing facility available in factory
- Copy of type test report from Independent lab, where applicable as mentioned in relevant standard.
- Latest Electricity Bill Copy.
- Audited Balance Sheet, Trading Account and Profit & Loss
- Account for the last 3 years duly signed by the authorized person under his seal.
- Statement showing the Results of Operation for the last 3 years duly signed by Chartered Accountant under his seal.
- Bankers’ Report giving details of financial status of the applicant firm as per Performa “F” of application form.
- Copy of Permanent Account No. (PAN)
- Partnership Deed
- Form ’A’ from Registrar of Firms showing the names of the partners.
- Certificate of Incorporation
- Memorandum and Articles of Association
