How To Register In NSIC?
There are two ways for SMEs to register with NSIC which are online and offline.
Online Registration of NSIC
To apply online at NSIC, one must first go to the website of NSIC. After opening the website, you have to click on the button to apply online. Now the registration form will open in front of you. Now all you have to do is fill the requested information in the form carefully and attach the required documents and submit the form.
Offline Registration of NSIC
For offline registration, the form needs to be filled & the required documents need to be arranged which has to be submitted to the nearest office of National Small Industries Corporation. Click to get the form.
NSIC Registration Fees
Fees have to be paid for the registration of small scale industry in National Small Industries Corporation (NSIC). The fees are as follows:
- For a business with 1 crore turnover, a fee of 5 thousand has to be paid for registration under the Single Point Registration scheme.
- If the turnover of the business is more than 1 crore, the registration fee is 5 thousand for the first 1 crore and 2 thousand crores for the rest.
- The registration fees are not included, so the tax money is added separately.
After registration, half of the amount given as registration fee for any kind of edit or modification is to be given again as a fee.
- If you want to renew your NSIC certificate then you have to pay 50% of the registration fee.
- 5 thousand separate fees have to be paid for the Competency Certificate of the industry.
- Subsidy of up to 20% of NSIC registration fees is provided to SC, ST people.
6 thousand for inspection of cottage (micro) industries and 8 thousand for small (small business) inspection.
Branch Branches and Service Centers of NSIC
|Branch Name||Service Center Area|
|Chennai||Leather & Footwear|
|Hyderabad||Electronic and Computer Applications|
|New Delhi||Machine Tools and related works|
|Rajkot||Energy, Audit, and Energy Conservation Activities|
|Rajpura||Household Electrical Appliances|
|Aligarh||Lock Cluster and Die & Tool Making|
Interest Rates Under The NSIC Scheme
The rate of interest offered by NSIC to MSME ranges from 10.50% to 12.00% per annum.
NSIC has signed the MOU with the nationalized, private banks and NBFCs for the purpose of meeting credit needs of MSME units.
The credibility of the venture & present and future stability & viability plays a significant role in deciding the rate of interest.
Types of NSIC Loan
The types of NSIC loan are:
MSME loan schemes are majorly used by business owners and enterprises to meet their working capital requirements, manage cash flow, business expansion, buying equipment, and machinery, and much more
Term loans can be categorized based on their tenure into short-term loans and long-term loans. Term loans that are of a shorter duration, usually less than one year, are called short-term loans. Loans with a duration of three or more years are classified as long-term loans.
For availing MSME loan, the following documents are required:
- Identity support
- Residence support
- Business address proof
- Rent Agreement / Lease Deed if business premises rented/leased
Asset and Liability Statement of promoters, guarantors, directors, etc. with the latest income tax returns
- MSME Profile – Name and address of promoters, experience, nature of the activity, address of all offices/plants, shareholding pattern, etc.
- Last three year’s Balance Sheet with IT / ST returns
- Projected Balance Sheet for the next two years
- Filled in application in the prescribed format
- CMA data in the prescribed format if the limit is required is Rs. 100 lakh and above
- Copy of SSI registration certificate / Entrepreneur’s Memorandum
Position of accounts with existing bankers
- Comprehensive project Report for term loan requirements
Estimates / Quotations / Sanctioned building plan etc.
- Document in support of Partnership Deed / Trust Deed / Rules & Bye-laws / Memorandum and Articles of Association / Certificate of Incorporation etc.
- Clearance from Pollution Control Board
- Clearance from Electricity Board and other statutory authorities
- Current financial year month-wise production & Sales data
- Value of stock currently in use
- Data for finished goods, debtors, creditors, etc.