NIC Code for Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae

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 Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae the appropriate category of NIC is displayed as Class 0311 and Subclass 03112 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 03112 for Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae

The NIC Code for Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae falls under:

  • NIC Class: 0311
  • NIC Subclass: 03112

This subclass includes all activities linked with Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae 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.

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 Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae the right NIC Class 0311 and Subclass 03112 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 Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae

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 Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae

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.

NIC Code Structure for Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae - Division, Group, Class & Subclass Explained

The NIC is organized in a hierarchical system that assist the government in classifying the businesses accurately:

  • 2-digit Division Code: This recognizes 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 03112: Identifies the specific activity being carried out.
  • Used for NIC Code search, Udyam, Udyog Aadhaar & industry mapping

All the businesses, irrespective of whether they are suppliers, manufacturers, traders or service providers, have to categorize themselves according to this structure.

Description for NIC Code 03112 - Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae

NIC Code 03112 of Class 0311 covers all businesses that are involved in Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae 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 Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae.

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

This classification provides government agencies the ability to identify the correct business and put into place the correct economic sector.

Frequently Asked Questions (FAQs)

What is the NIC Code for Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae?

The NIC Code of Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae presents a particular industrial classification of this activity within the National Industrial Classification system that helps in classifying the business properly.

What is the description of NIC Code 03112?

NIC Code 03112 consist of activities related to Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae, defining the scope, nature, and functions involved in this line of business.

Who issues the NIC Code in India?

The National Statistical Office (NSO) of the ministry of Statistics and Programme implementation (MoSPI) of the Government of India, issues and maintains NIC Codes.

What is the role of NIC Code in Udyam Registration for Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae?

In Udyam Registration, the NIC Code for Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae, is used to ensure that MSMEs are classified appropriately and the business can obtain government benefits, subsidies, and other advantages tied to compliance.

What is the two-digit Division NIC Code for Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae?

The two-digit Division NIC Code of Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae refers to the industrial sector in which this activity falls under and then it is further broken down to group, classes, and subclasses.

What is the three-digit Group NIC Code for Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae?

The three digits Group Code for Gathering of other marine organisms and materials such as natural pearls, sponges, coral and algae further classifies the activity in the division along with other similar industries so that it is categorized correctly.