Kumar is a proprietor of a small scale unit manufacturing cotton clothes. He wants to know the benefits of registration with National Small Industries Corporation (NSIC). Advise Kumar.
CS Executive · Setting up of Business Entities and Closure · PYQS · December 2021
Kumar is a proprietor of a small scale unit manufacturing cotton clothes. He wants to know the benefits of registration with National Small Industries Corporation (NSIC). Advise Kumar.
Answer & Explanation:
The units registered under Single Point Registration Scheme of NSIC are eligible to get the following benefits under "Public Procurement Policy for Micro & Small Enterprises (MSES) Order" as notified by the Government of India, Ministry of Micro, Small & Medium Enterprises: Issue of the Tender Sets free of cost; Exemption from payment of Earnest Money Deposit (EMD), In tender participating MSEs quoting price within price band of L1+15% shall also be allowed to supply a portion upto 25% of requirement by bringing down their price to L1 Price where L1 is non-MSEs. Every Central Ministries/Departments/PSUs shall set an annual goal of minimum 25% of the total annual purchases of the products or services produced or rendered by MSEs. In addition to the above, 358 items are also reserved for exclusive purchase from SSI Sector.
Topics: MSME
Related Questions in this Topic
- XYZ Pvt. Ltd., is engaged in manufacture of engineering components. The Company has investment of ₹5 Crore and Turnover ...
- UV Pvt. Ltd. wants to apply for Udyog Aadhar. The Company seeks your advice on the criteria for making application for U...
- You have been appointed as liquidator by the National Company Law Tribunal (NCLT) in the matter of winding up of ABC Ltd...
- PP Constructions Ltd. (PPCL) is a supplier of building material to MN Builders Ltd. (MNBL). MNBL owes ₹ 1.50 crore to PP...
- Discuss the compliance requirements to retain the status of a dormant company.