The government is the single largest buyer of a variety of products. It always emphasises on the small-scale sector to uplift and promote their business. And to increase this purchase from small-scale industries, the government launched the Government Stores Purchase Programme in 1955-56. National Small Industries Corporation (NSIC) registers these Micro and Small Enterprises (MSEs) under Single Point Registration Scheme (SPRS) to allow these enterprises to participate in Government Purchase Programme.
Learn about NSIC and how to register under the scheme.
The enterprises registered under the SPR Scheme of NSIC are eligible to avail the benefits of Public Procurement Policy for Micro & Small Enterprises (MSEs) Order 2012. The registered units can get the listed benefits.
The online registration is a procedure where an assessee or an MSE is required to fill out the form and provide the necessary details and documents.
The assessee can contact the nearest NSIC branch for required documents. Further, these documents can be scanned and uploaded to complete the registration.
The charges for registration under the NSIC are based upon the turnover of the MSE as per the latest audited financial statement. The charges are levied under 3 heads:
|Turnover||Micro enterprise||Small enterprise|
|Less than 1 crore||Rs 3,000||Rs 5,000|
|More than 1 crore||Rs 3,000 plus Rs 1,500 for every additional crore.||Rs 5,000 plus Rs 2,000 for every additional crore.|
However, note that the maximum amount of fee for registration shall not exceed Rs 1 lakh.
The MSEs shall also pay the professional fees to the Consultancy Development Centre for undertaking physical verification.
The fees are set at Rs 6,000 for micro enterprises and Rs 8,000 for small enterprises.
The Certificate of Registration granted to MSEs under Single Point Registration Scheme is valid for 2 years from the date of issue of such certificate.
The certificate needs to be reviewed and renewed every two years by verifying the commercial and technical competence of the registered MSE in manufacturing or producing the items for which NSIC has registered it.
The company’s net sales turnover during the last 3 years determines the monetary limit of a company. However, this monetary limit will be fixed by the highest turnover during the last 3 years provided the unit installed and operating capacity has not been reduced.
50% of the highest turnover during the last 3 years would be the basis for fixation of monetary limit.
A. The limit is Rs 5 lakhs.
A. Up to R 25 lakhs.
A. More than Rs 25 lakhs but shall not exceed Rs 5 crores.
A. Yes. Service industries are treated at par with manufacturing industries.
A. Up to Rs 10 lakhs.
A. More than ₹ 10 lakhs but shall not exceed Rs 2 crores.
A. No. Traders cannot register.
A. No. NSIC do not register drugs and medicines manufacturing units.
After the implementation of GST, the tax compliance requirements changed drastically. As a result, several businesses find it challenging to focus on their business while trying to be GST compliant. This is where we come into the picture. Our team of in-house GST experts can help you meet all the GST compliance requirements right from registration and filing of returns to handling notices.
We hope, this guide answers all the questions you had about NSIC registration. If you still have any question in mind, you can post it on our TaxForum to get it answered from a tax expert.