Updated on July 06, 2024 11:51:41 PM
NSIC Registration is a way of formalizing your business and getting listed in the NSIC database. The government of India set up NSIC to support people who run small businesses.The MSMEs registered with NSIC are eligible for support under many governmental developmental programs.
The government introduced NSIC registration to support small businesses struggling today's economy. The purpose of NSIC is to give organizations access to benefits from big-ticket purchases made by the government.
Registering for NSIC and getting the registration certificate is easy but can be confusing if you are unaware of all the necessary details. This article covers the NSIC registration Process, Fees, and more. It gives you all the information you need to register online and get your NSIC certificate without delay. Go through this article and learn how to get registered under NSIC today.
NSIC Registration Certificate Sample
NSIC stands for National Small Industries Corporation. It is an ISO-certified government organization that enlists Micro & Small Enterprises (MSMEs) under the Single Point Registration scheme (SPRS) to participate in government purchases. It provides access to government contracts, benefits, and discounts. The Government of India established National Small Industries Corporation (NSIC) in 1955 to aid, support, and promote the Micro, Small, and Medium Enterprises(MSMEs) in India.
The primary purpose of NSIC is to assist and promote the MSMEs sector by offering integrated support services in finance, marketing, technology, and other allied services.
The registration process is simple and can be done online. You will need to provide basic information about your business and pay a registration fee. Once you are registered, you will be issued an NSIC certificate.
Udyam Registration Number is required to apply for NSIC registration. Therefore the primary step of NSIC certification is MSME registration
MSMEs have to register themselves in MSMEDataBank using UAM No. and PAN to apply for Single Point Registration.
The application for Single Point Registration is done online on the NSIC website. All the required forms, annexures, and documents have to be uploaded properly. After applying, the NSIC forwards the application to a zonal branch or sub-branch office nearest to the applicant to complete the unit's technical inspection and forwarding of recommendation for NSIC registration.
Inspection by a third-party agency is involved for store item inspection. The units have to choose an inspection agency according to their domain expertise and jurisdiction. To check the Inspection charges, refer to the list of Inspecting Agencies empanelled for technical inspection under SPRS.
On receiving the inspection report from the agency, NSIC grants registration to the MSE unit. Post-approval, NSIC Registration Certificate will be available online, and the respective NSIC office will send a physical copy of the certificate by post.
During the process of NSIC registration, there are different fees that need to be paid.
| Entity Type | Turnover upto ₹1 Crore | Turnover above ₹1 Crore |
|---|---|---|
| Micro | ₹3,000 | ₹3,000 + ₹1,500 for every additional turnover of ₹1 Crore |
| Small | ₹5,000 | ₹5,000 + ₹2,000 for every additional turnover of ₹1 Crore |
Note: The Registration fee mentioned in the table above is exclusive of the Inspection charges levied by the Inspecting agency. GST will be applicable extra on the charges. The units located in the North Eastern Region will be given a 20% concession in the Registration fee. Cap of ₹1 Lakh for all categories.
As a vendor, you may register for the NSIC Single Point Registration Scheme if you are interested in providing government agencies goods or services. The program streamlines the registration process by allowing you to register once instead of with each agency.
To register, you'll need to complete an online application and submit certain documents, including proof of business entity, financial statements, and more. You need to pay a non-refundable fee associated with registration.
In 2012, an official order created the Single Point Registration System(SPRS) - a section of a public procurement policy that specifically deals with small businesses. In addition to giving these SMEs access to various vendor opportunities and a general increase in sales revenue.
SPRS also helps them find relevant services they might need while registering their company or getting started on something new by providing everything from legal support to marketing assistance. And because of so many options through this one-stop shop program, everyone who registers will benefit from everything available at NSIC.
A business entity having an NSIC certificate is exempted from Vendor Assessment on Gem Portal.
Registering under NSIC provides access to training courses and workshops on topics such as marketing strategies, technology investment strategies, finance management, and more to help MSMEs in India improve their performance.
Micro and small enterprises(MSMEs) that have registered with NSIC for a specific product category and whose credentials have been checked by the NSIC database are free from payment of Earnest Money Deposits(EMD).
MSMEs can freely participate in government contracts and tenders by obtaining NSIC Registration Certificate. It also helps small-scale businesses get the contracts they need for their work and allows them to sell their products at competitive prices.
Registered businesses also get preference in tenders floated by public sector undertakings (PSUs). MSMEs can secure government purchases and tenders by utilizing the SPRS. Aside from that, MSMEs would also be notified of any allotted tenders.
It also seeks to promote greater transparency in the manner in which foreign funds are raised and spent by NGOs and other trusts involved in a social cause.
NSIC registration protects businesses from being cheated by unscrupulous traders and ensures that only quality goods are supplied. The NSIC logo is a quality mark and a valuable promotional tool for businesses.
SPRS registered units are an essential aspect of the government's supply chain. The government allows reservations for some units. Hence, Out of the yearly procurement requirement of 25% from MSMEs, 4% is planned for units owned by Schedule Caste / Scheduled Tribes, and 3% is earmarked for units owned by Women Entrepreneurs.
Once registered, businesses become eligible for a range of benefits such as access to credit, subsidies, raw material assistance, and more.
The NSIC provides numerous services to support prosperous entrepreneurs and small businesses. NSIC has been promoting micro and small enterprises through its various schemes. Some of the NSIC schemes are explained below.
NSIC enrolls Micro and Small Enterprises (MSMEs) in the Single Point Registration Scheme (SPRS) to participate in Government Purchases. Units registered through NSIC's Single Point Registration Scheme are eligible for privileges under the Public Procurement Policy for Micro and Small Enterprises.
Marketing assistance has long been regarded as one of the most crucial tools for the growth of any firm. In today's fiercely competitive market, it is critical for the survival and growth of Micro, Small, and Medium Enterprises. NSIC established a variety of services to assist businesses in their marketing efforts.
The Scheme helps MSMEs by funding the procurement of raw materials. It allows MSMEs to concentrate more on producing high-quality goods. The main advantage of the RMA Scheme is to facilitate purchasing raw materials with credit support for upto six months.
Emerging technical and knowledge-based entrepreneurial concepts must be nurtured and developed in a supportive environment before commercializing the business. As a result, the technology incubation centers have been set up by NSIC to support technology-based companies.
NSIC supports long-term international collaboration. The emphasis is on long-term business relationships rather than one-way transactions. NSIC has contributed to the strengthening of enterprise-to-enterprise cooperation by providing the following services:
There are many complexities in the NSIC registration process, and document uploading may seem daunting; seeking an NSIC Registration agent is advised.
Obtaining an NSIC certificate is relatively easy when you are backed by Professional Utilities. All you need to do is to follow these three simple steps:
Step 1:
Get in touch via call or contact form
Step 2:
Provide necessary documents
Step 3:
Get your NSIC Certificate
At Professional Utilities, we leverage our industry knowledge and expertise to help businesses navigate complex regulations, minimize risks, and optimize operations for maximum efficiency and profitability.
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The Single Point Registration Scheme (SPRS) is an NSIC development scheme designed to help MSMEs in India. MSMEs with an NSIC registration scheme who choose this Scheme are excluded from Earnest Money Deposit (EMD) in Government Purchases.
NSIC certificate is an important document that allows Micro, Small, and Medium Enterprises to avail of benefits from the multiple schemes offered by NSIC.
To start a security agency in Bihar, register the entity legally, obtain necessary permits including a PSARA License, hire trained personnels, and ensure compliance with all the rules and regulations.
The primary purpose of NSIC is to assist and promote the MSMEs sector by offering integrated support services in finance, marketing, technology, and other allied services.
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