NIC Code for Cargo Handling Incidental Air Transport - 52243

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 Cargo handling incidental to air transport the appropriate category of NIC is displayed as Class 5224 and Subclass 52243 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.

The NIC Code for Cargo handling incidental to air transport falls under:

• NIC Class: 5224
• NIC Subclass: 52243

This subclass includes all activities linked with Cargo handling incidental to air transport that are connected to service delivery, manufacturing, trading, supply, installation, support, and maintenance. The business entities that are registered in the form of MSME or as a company will have to use this subclass in order to be properly classified by the ministry of corporate affairs (MCA), GST authorities, and Udyam portal.

Proper selection of NIC Code not only helps in compliance but also in recognizing various government records, tenders, industry licensing, and financial audits.

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 Cargo handling incidental to air transport the right NIC Class 5224 and Subclass 52243 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

Uninterrupted Legal and Financial Compliance

Banks, NBFCs, and government portals validate business activities through NIC codes as 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 NIC codes, which allows a much quicker approvals of businesses in Cargo handling incidental to air transport

Evading Non-compliance Problems

Incorrect NIC codes may raise questions when you are submitting tax, during audits or when tenders are being applied.

Increased Transparency within Government Data

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

Proper Positioning in the Industry

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

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 5224: Defines the primary industrial class.
• 5-digit Subclass Code 52243: 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.

NIC Code 52243 of Class 5224 covers all businesses that are involved in Cargo handling incidental to air transport and all associated commercial, operational, servicing, manufacturing or trading operations.

Under this code of business, the business can be service centers, consultants, technicians, wholesalers, retailers, manufacturing units, distributors, or support-oriented firms based on the nature of Cargo handling incidental to air transport.

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

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