NIC Code for Manufacture Gur Other Than Sugarcane - 10723

The National Industrial Classification (NIC) Code is a standard system in India that is used to classify business activities to help in regulations, statistical and 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 any business is engaged in Manufacture of `gur' from other than sugarcane the correct category of NIC is displayed as Class 1072 and Subclass 10723 that allows the activity to be registered as being official government and financial systems. This particular 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 Manufacture of `gur' from other than sugarcane falls under:

• NIC Class: 1072
• NIC Subclass: 10723

This subclass includes all activities linked with Manufacture of `gur' from other than sugarcane 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 plays an important role in the Udyam Registration process where all the businesses are required to declare the type of operations they are involved in. To businesses that are engaged in Manufacture of `gur' from other than sugarcane the right NIC Class 1072 and Subclass 10723 helps in:

• Right classification in Micro, Small or Medium enterprise
• Eligibility for MSME subsidies and government benefits
• Avoid making any mistakes in verification process by the Udyam portal
• Easy linking with GST, PAN, bank accounts and MCA documents
• Preference in government tenders based on 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 Manufacture of `gur' from other than sugarcane

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 NIC is organized in a hierarchical system that assist government to classify 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 1072: Defines the primary industrial class.
• 5-digit Subclass Code 10723: Identifies the specific activity being 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, have to categorize themselves according to this structure.

NIC Code 10723 of Class 1072 covers all the major businesses that are involved in Manufacture of `gur' from other than sugarcane 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 Manufacture of `gur' from other than sugarcane.

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.