NSIC Registration

Introduction

National Small Industries Corporation (NSIC), the Enterprise of Government of India under Ministry of MSME, is the leading organization influencing, sustaining and enabling the growth of Micro, Small and Medium Enterprises (MSMEs) in India. In its multiple schemes, NSIC offers credit support, marketing, and preferential treatment that MSMEs can get when procuring government contracts.

Single Point Registration Scheme (SPRS) is amongst the most demanded schemes of NSIC. The certification allows the MSMEs to engage in government tenders with some benefits and without having to pay the earnest money deposit (EMD). Registrations by the NSIC assists companies in raising their credibility as well as open up untapped business opportunities.

What is the NSIC Registration?

NSIC Registration under the Single Point Registration Scheme (SPRS) is a classification that is issued to suitable MSMEs to take part in governmental purchases. This registration is done following an extensive evaluation concerning the production capability of the unit, the technical capacity and financial position.

The NSIC Registration serves as a gateway for MSMEs to access:

• Waivers on payment of Earnest Money Deposit (EMD)
• Free access to tender and tender sets issue
• Enrolment in reserved government contracts

This certification enhances the image of your company and creates confidence to both government and private buyers.

What is the Need of NSIC Registration?

• EMD Exemption on government bidding
• Access to Free Tender without fee charges
• The Public procurement the policy Direct Purchase Preference
• Priority Procurement Benefits
• Increased Credibility to the MSMEs
• NSIC financial and Marketing Support
• More Business Opportunities in the fields of public sector undertakings (PSUs), defense, railways etc.

Legal & Operational Advantages:

Though not a compulsory registration, it is of great advantage to the corporates that intend to grow through government contracts and special treatment under government purchase policies.

Eligibility Criteria

• To be MSME/Udyam registered in Ministry of MSME
• Suffered 1 year plus of company activity
• Be a valid GST registered and possessing PAN
• Post good performance record
• Note: A Provisional NSIC Registration, valid up to 1 year can also be applied by Startups and MSMEs that are newly established (less than 1 year old).

Documents Required

In the case of MSMEs (Established Units):

• Udyam Registration Certificate
• GST Registration Certificate
• PAN Card of the organization
• Audited copy of balance sheets of past 3 years
• Past performance statement of contracts
• Copy of ISO certification (Where any)
• Plant and machinery Description
• Products/services provided List
• Lease agreement or documents of premises ownership
• Declaration/ affidavit of non-violation of the labor laws/environmental norms
• Duplet of electricity /water bills
• BIS license (where applicable) duplicate (where applicable)
• Authorisation/Board resolution letter of signing authority

In the case of Provisional NSIC Registration (Startups):

• Udyam Certificate
• Project Report
• Banker’s Certificate
• Presentation of business activities (invoices, bills)
• Promoter proofs of Address and ID

Step-by-Step Process

• Steps 1: MSME Udyam Registration – Make sure that your business is registered as Udyam. The former is a must.
• Step 2: Prepare Documentation – Prepare all the documents needed such as financial statements, ownership proof, and products/services information.
• Step 3: Applying online – Fill the application via the NSIC online portal and attach the necessary documents and processing fee.
• Step 4: Inspection by NSIC – Technical and financial verification of business premises and records will be done by the NSIC officials.
• Step 5: NSIC Certificate – Upon inspection and approval, the NSIC grants the certificate that is valid during 2 years, and can later be renewed.

Timeline

• 10-15 working days- To prepare and present documents
• Inspection, verification and approval take 15 to 30 working days.
• Total Estimated Time: Working 25-45 working days (depending on the integrity of paperwork and the speed of inspections)

Charges and Prices

• Government Fees (NSIC): Inspection Fee: is depending on turnover (Assumes rs 2000 to 8000)
• Professional Fee (Optional): This is applicable in case of taking the consultancy services in filing and coordination of the application.
• What is included in our Service Fee:
  • Preparation and review of document
  • NSIC application filing
  • NSIC inspection coordination
  • Aid to answer questions
  • Post-registration support
• Estimation of Cost (All inclusive): Rs 7,000 -15,000
• And you can also get tailored packages when you are looking to do provisional registration, start up business, and when you are doing a multi-unit business.

Consequences of Defaults

• Registrations can be cancelled because of misrepresentation or false data
• It is possible to lose benefits in case of failure to renew after expiry
• Failure to conduct inspection by protocols may result in suspension
• Revocation of NSIC status may result in the inability of businesses to enjoy government procurement privileges and reputable stance with PSUs.

Why Choose Us?

• Selecting the best partner to work with your NSIC Registration guarantees:
• More processing with zero rejections
• Expert Support with MSME specialists with each case
• Non-Error Application filing
• Service that helps throughout the process, documentation to the final approval
• Very low pricing without any kind of obscurity
• Independent Tracker and updater Manager
• We supported the successful registration of hundreds of MSMEs in India under NSIC and achieved a growth in their business with government contracts.