Last Updated On:
Aug. 20, 2021, 10:30 p.m.
Difference between MSME And NSIC Registration
What is NSIC?
NSIC is an ISO certified Enterprise under Indian Government’s Micro, Small, and Medium Enterprise. The National Small Industries Corporation fosters and promotes the growth of MSMEs in India. It operates all over the country with the help of network, Technical Centres and Offices.
The main NSIC functions are to promote the budding small businesses of India and provide help to Small Scale Industries (SSI). The National Small Industries Corporation objectives include:
- To enhance the corporation reach which will ultimately result in business growth.
- To achieve efficiency in operations and productivity and attain better profitability.
- To help manpower in upgrading their skills.
- To provide a safe and clean work environment.
- To provide training to the trainees and help them in self-employment.
What is MSME?
Micro, Small and Medium Enterprises, coined as MSMEs, have come to become the Indian economy’s major pillar of foundation.
Major Functions of MSME:
- Enable MSMEs access to top class technologies by supporting setting up of Common Facility Centres (CFCs) in clusters
- Facilitate access to credit for MSMEs & small businesses to meet their varied financial requirements across the business life cycle and provide financial services
- Provide advisory services to MSMEs and small businesses for enhancing their business performance
- Facilitate integration of Haryana MSMEs into the global value chain by enhancing their export potential Assist in creating marketing linkages of state MSMEs & small businesses to enable their access to newer markets — domestic & international — and enhance their visibility
- Catalyse the spirit of entrepreneurship development & give a thrust to state MSME & small businesses landscape by facilitating Ease of Doing Business (EoDB) and reducing the Cost of Doing Business (CoDB)
- Develop a robust policy framework to strengthen the MSMEs & small businesses ecosystem and engage with all key stakeholders including Business Membership Organizations (BMOs)
What are the Documents required for the NSIC and MSME?
Documents needed for NSIC
- Owners Identity proof such as (Aadhar card, Voter ID and Driving License)
- PAN card of Directors
- Company’s Incorporation Certificate.
- Address proof the registered Office (Possession Letter and Lease Agreement)
- Utility Bill, in case of owned land
- Rent Agreement and NOC from Landlord, if applicable
- AOA (Article of Association).
- Memorandum of Association
- Description of Product and service for the proposed NSIC registration
- Banker’s Statement to specify the financial position of the Company as per Application Form Performa (F)
- Measures for Quality Control Standard testing installed in the Company
- Past three years statement of Operations, sealed by CA.
- Financial Statements (Profit& Loss A/C, Balance Sheet, and Trading A/C) of the Company signed by an authorized person.
- Copy of MSME Certificate
- Declaration regarding dissociation with large companies.
- Receipt of equipped Plant and machinery.
- Copy of BIS license, if any.
- Description regarding Human Resource in the Company
- Certificate of ISO 9000, optional
Documents Required for MSME
- Address proof of the registered office.
- Copy of sales and purchase bills
- MOA/Partnership Deed
- Receipts of equipped Plant and Machinery
- Copy of the Industrial License
- NICC (National Industrial Classification Code)
- Cancelled Cheque
- Identity and address proof of directors
What is the difference in the Procedure required for the NSIC and MSME Registration?
The difference in procedure for registration is as given below:
Procedure for the NSIC Registration
- Apply online on the NSIC portal
- At first, you need to register your Company online at the NSIC portal under the SPRS (Single Point Registration Scheme for Government Purchase).
- Filling details along with the Document submission
- The applicant has to fill the details of the following:
- PAN Number of the Company that is to be registered.
- Name of the Organization.
- Business type
- Udhyog Aadhar Number
- GST Number
- Inspecting agency
- NSIC Branch preference.
- Major Category products
- Branch Details
- Details like the Branch name, address, timings and contacts are sent to the applicant for which the applicant has selected the NSIC Branch.
- Documents Secularization
- After the documents are uploaded, the applicant has to be physically present at the branch with the original documents handy for the verification purpose.
- Issuance of Certificate
- The NSIC authorized person will verify all the documents and the above procedures involved and the NSIC Registration Certificate will be issued then.
Procedure for the MSME Registration
- Apply online on the MSME Portal for MSME Registration:
- The applicant needs to log in to the MSME portal and has to fill the 12 digits Udhyog Aadhar number.
- Now, the applicant needs to fill the name of the Directors and generate an OTP (By clicking on “Validate and Generate OTP”) to validate the Aadhar.
- Mark the gender selection and status of physically handicapped (YES/NO).
- Now, the applicant will fill the following details:
- Organization Name
- Organization Type
- PAN card details in case of Private Limited Company or LLP or partnership or Cooperative Company
- Plant locations or Business operations unit.
- Registered Company Address (Details like State, district and PIN code).
- Date of commencement of business operations
- Bank details of the current account.
- The category of the organization
- Number of Employees in the organization
- The worth of plant and machinery employed
- DIC (District Industries Center) Location.