NIC Code for Activities of vessels engaged in fishing and in processing and preserving of fish

The National Industrial Classification (NIC) Code is a standard system applicable in India to classify business activities to assist regulation, statistical as well as compliance. This classification is compulsory with Udyam Registration (MSME), Udyog Aadhaar, company incorporation, LLP registration, GST registration, bank documents and industry-related approvals.

In the case of a business engaged in Activities of vessels engaged in fishing and in processing and preserving of fish the appropriate category of NIC is displayed as Class 0311 and Subclass 03113 that allows the activity to be registered as being official government and financial systems. The classification is used by businesses in the industries like AC repair, water purifier servicing, building material supply, digital signature services, IT consulting, trading, transport, and agricultural trading, painting, recycling, etc.

NIC Class 0311 & Subclass 03113 for Activities of vessels engaged in fishing and in processing and preserving of fish

The NIC Code for Activities of vessels engaged in fishing and in processing and preserving of fish is categorized as:

  • NIC Class: 0311
  • NIC Subclass: 03113

This subclass has all such activities associated with Activities of vessels engaged in fishing and in processing and preserving of fish that are related to service delivery, manufacturing, trading, supply, installation, support, and maintenance. Businesses that are registered in the form of MSME or as a company have to use this subclass in order to be properly classified by the ministry of corporate affairs (MCA), GST authorities, and Udyam portal.

Choosing the appropriate NIC Code not only helps in compliance but also in recognition in government records, tenders, industry licensing, and financial audits.

Importance of NIC Code for Udyam Registration & Udyog Aadhaar

The NIC Code is vital in the Udyam Registration process where all the businesses are required to declare the type of operations they are involved in. To businesses engaged in Activities of vessels engaged in fishing and in processing and preserving of fish the right NIC Class 0311 and Subclass 03113 helps in:

  • Correctly classify as Micro, Small or Medium enterprise
  • Eligibility for MSME subsidies and government schemes
  • Eliminate errors in Udyam portal verification process
  • Easy linking with GST, PAN, bank accounts and MCA documents
  • Preferred in government tenders under MSME schemes
  • Prevents rejection and delays caused by incorrect classification

Benefits of Using the Correct NIC Code for Activities of vessels engaged in fishing and in processing and preserving of fish

Uninterrupted Legal and Financial Compliance

Banks, NBFCs, and government portals verify business activities through NIC codes because they need an accurate classification.

Access to MSME Incentives

  • Collateral-free loans
  • Interest rate subsidies
  • Technological upgrades plans
  • Government reimbursement programs

Fast Company/LLP Incorporation

The MCA system is automatic in cross-verifying the NIC codes and allows a much quicker approvals of businesses in Activities of vessels engaged in fishing and in processing and preserving of fish

Evading Non-compliance Problems

Inaccurate NIC codes can be a problem when you are submitting tax, during audits or when tenders are being applied.

Improved Government Data Transparency

Proper classification improves visibility in Udyam, GST, GeM and industry databases.

Proper Industry Positioning

The NIC code specifically positions your business as a useful part in AC repair, RO maintenance, building materials, electrical stores, IT systems, transport and agricultural trading, other services or manufacturing businesses.

NIC Code Structure for Activities of vessels engaged in fishing and in processing and preserving of fish - Division, Group, Class & Subclass Explained

The National Industry Classification (NIC) features an organization in a systematic hierarchy that allows government to categorize and classify businesses accurately:

  • 2-digit Division Code: This identifies the industry sector.
  • 3-digit Group Code: Classifies businesses in that division.
  • 4-digit Class Code 0311: Defines the primary industrial class.
  • 5-digit Subclass Code 03113: This Identifies the specific activity performed and carried out.
  • Used for NIC Code search, Udyam, Udyog Aadhaar & industry mapping

All businesses, regardless of whether they are suppliers, manufacturers, traders or service providers, need to categorize themselves in accordance with this structure.

Description for NIC Code 03113 - Activities of vessels engaged in fishing and in processing and preserving of fish

NIC Code 03113 of Class 0311 covers all the major businesses that are involved in Activities of vessels engaged in fishing and in processing and preserving of fish and all associated in commercial, operational, servicing, manufacturing or trading operations.

Under this NIC Code, the business can be service centers, consultants, technicians, wholesalers, retailers, manufacturing units, distributors, or support-oriented firms, fully based on the nature of Activities of vessels engaged in fishing and in processing and preserving of fish.

This NIC Code is tried during MSME Udyam Registration, Udyog Aadhaar, GST registration, incorporation of companies, tenders, bank loan applications, government licensing and compliance.

This classification allows the government agencies to find accurate business and put into place the correct economic sector.

Frequently Asked Questions (FAQs)

What is the NIC Code for Activities of vessels engaged in fishing and in processing and preserving of fish?

The NIC Code of Activities of vessels engaged in fishing and in processing and preserving of fish specifies a particular industrial classification of the activity as per the National Industrial Classification system that helps in properly classifying the business.

What is the description of NIC Code 03113?

NIC Code 03113 includes all the activities related to Activities of vessels engaged in fishing and in processing and preserving of fish, defining the scope, nature, and functions entangled in this line of business.

Who issues the NIC Code in India?

The NIC Codes are issued and maintained by the National Statistical Office (NSO) of the ministry of Statistics and Programme implementation (MoSPI) of the Government of India.

What is the role of NIC Code in Udyam Registration for Activities of vessels engaged in fishing and in processing and preserving of fish?

In Udyam Registration, the NIC Code for Activities of vessels engaged in fishing and in processing and preserving of fish, is used to ensure that MSMEs are classified correctly so that they qualify for the government benefits, subsidies, and all the other advantages tied to compliance.

What is the two-digit Division NIC Code for Activities of vessels engaged in fishing and in processing and preserving of fish?

The two-digit Division NIC Code of Activities of vessels engaged in fishing and in processing and preserving of fish is indicating the industrial sector in which this activity falls under and then it is later broken down into group, classes, and subclasses.

What is the three-digit Group NIC Code for Activities of vessels engaged in fishing and in processing and preserving of fish?

The three digits Group Code for Activities of vessels engaged in fishing and in processing and preserving of fish is classified into activities in the division along with other similar industries so that it is categorized accurately.