NIC Code for Mining Non Ferrous Metal Ores - 07299

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 Mining of other non-ferrous metal ores, nec [titanium ( ilmenite and rutile) ,niobium, tantalum,vanadium or zirconium ores; tin bearing ores; and, nickel, cobalt, tungsten, molybdenum, antimony and the appropriate category of NIC is displayed as Class 0729 and Subclass 07299 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 Mining of other non-ferrous metal ores, nec [titanium ( ilmenite and rutile) ,niobium, tantalum,vanadium or zirconium ores; tin bearing ores; and, nickel, cobalt, tungsten, molybdenum, antimony and falls under:

• NIC Class: 0729
• NIC Subclass: 07299

This subclass includes all activities linked with Mining of other non-ferrous metal ores, nec [titanium ( ilmenite and rutile) ,niobium, tantalum,vanadium or zirconium ores; tin bearing ores; and, nickel, cobalt, tungsten, molybdenum, antimony and 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 Mining of other non-ferrous metal ores, nec [titanium ( ilmenite and rutile) ,niobium, tantalum,vanadium or zirconium ores; tin bearing ores; and, nickel, cobalt, tungsten, molybdenum, antimony and the right NIC Class 0729 and Subclass 07299 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 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 Mining of other non-ferrous metal ores, nec [titanium ( ilmenite and rutile) ,niobium, tantalum,vanadium or zirconium ores; tin bearing ores; and, nickel, cobalt, tungsten, molybdenum, antimony and

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 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 0729: Defines the primary industrial class.
• 5-digit Subclass Code 07299: 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 07299 of Class 0729 covers all businesses that are involved in Mining of other non-ferrous metal ores, nec [titanium ( ilmenite and rutile) ,niobium, tantalum,vanadium or zirconium ores; tin bearing ores; and, nickel, cobalt, tungsten, molybdenum, antimony and 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 Mining of other non-ferrous metal ores, nec [titanium ( ilmenite and rutile) ,niobium, tantalum,vanadium or zirconium ores; tin bearing ores; and, nickel, cobalt, tungsten, molybdenum, antimony and.

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.