NIC Code for Rendering Lard Edible Fats - 10107

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 Rendering of lard and other edible fats of animal origin the appropriate category of NIC is displayed as Class 1010 and Subclass 10107 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 Rendering of lard and other edible fats of animal origin is categorized as:

• NIC Class: 1010
• NIC Subclass: 10107

This subclass has all such activities associated with Rendering of lard and other edible fats of animal origin 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 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 Rendering of lard and other edible fats of animal origin the right NIC Class 1010 and Subclass 10107 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 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 Rendering of lard and other edible fats of animal origin

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 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 1010: Defines the primary industrial class.
• 5-digit Subclass Code 10107: 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 10107 of Class 1010 covers all businesses that are involved in Rendering of lard and other edible fats of animal origin 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 Rendering of lard and other edible fats of animal origin.

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.