NIC Code for Manufacture Non Motorized Bicycles Cycles - 30921

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 Manufacture of non-motorized bicycles and other cycles, including cycle-rickshaws, (delivery) tricycles, tandems, children's bicycles and tricycles, baby carriages the appropriate category of NIC is displayed as Class 3092 and Subclass 30921 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 Manufacture of non-motorized bicycles and other cycles, including cycle-rickshaws, (delivery) tricycles, tandems, children's bicycles and tricycles, baby carriages is categorized as:

• NIC Class: 3092
• NIC Subclass: 30921

This subclass has all such activities associated with Manufacture of non-motorized bicycles and other cycles, including cycle-rickshaws, (delivery) tricycles, tandems, children's bicycles and tricycles, baby carriages 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.

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. For businesses engaged in Manufacture of non-motorized bicycles and other cycles, including cycle-rickshaws, (delivery) tricycles, tandems, children's bicycles and tricycles, baby carriages the right NIC Class 3092 and Subclass 30921 helps in:

• Proper classification into Micro, Small or Medium enterprise
• Eligibility for MSME subsidies and government benefits
• Avoiding 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 other government portals validate business activities via NIC codes for correct and accurate classification.

Access to MSME Incentives

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

Fast Company/LLP Incorporation

The MCA system is automatic in cross-verification of NIC codes, which allows a much quicker approvals of businesses in Manufacture of non-motorized bicycles and other cycles, including cycle-rickshaws, (delivery) tricycles, tandems, children's bicycles and tricycles, baby carriages

Evading Non-compliance Problems

Wrong NIC codes can lead to questioning when you go to submit your taxes, during audits or when tenders are being applied.

Improved Government Data Transparency

Right classification can improve the total visibility in Udyam, GST, GeM and industry databases.

Proper Industry Positioning

The NIC code evidently 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 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 3092: Defines the primary industrial class.
• 5-digit Subclass Code 30921: 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.

NIC Code 30921 of Class 3092 covers all the major businesses that are involved in Manufacture of non-motorized bicycles and other cycles, including cycle-rickshaws, (delivery) tricycles, tandems, children's bicycles and tricycles, baby carriages 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 non-motorized bicycles and other cycles, including cycle-rickshaws, (delivery) tricycles, tandems, children's bicycles and tricycles, baby carriages.

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.