NIC Code for Wholesale of transport equipment except motor vehicles, motorcycles and bicycles

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 Wholesale of transport equipment except motor vehicles, motorcycles and bicycles the correct category of NIC is displayed as Class 4659 and Subclass 46592 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.

NIC Class 4659 & Subclass 46592 for Wholesale of transport equipment except motor vehicles, motorcycles and bicycles

The NIC Code for Wholesale of transport equipment except motor vehicles, motorcycles and bicycles is categorized as:

  • NIC Class: 4659
  • NIC Subclass: 46592

This subclass has all such activities associated with Wholesale of transport equipment except motor vehicles, motorcycles and bicycles 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.

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. For businesses engaged in Wholesale of transport equipment except motor vehicles, motorcycles and bicycles the right NIC Class 4659 and Subclass 46592 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

Benefits of Using the Correct NIC Code for Wholesale of transport equipment except motor vehicles, motorcycles and bicycles

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 Wholesale of transport equipment except motor vehicles, motorcycles and bicycles

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 Wholesale of transport equipment except motor vehicles, motorcycles and bicycles - Division, Group, Class & Subclass Explained

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 4659: Defines the primary industrial class.
  • 5-digit Subclass Code 46592: 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.

Description for NIC Code 46592 - Wholesale of transport equipment except motor vehicles, motorcycles and bicycles

NIC Code 46592 of Class 4659 covers all businesses that are involved in Wholesale of transport equipment except motor vehicles, motorcycles and bicycles 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 Wholesale of transport equipment except motor vehicles, motorcycles and bicycles.

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

This classification enables government agencies to find the correct business and put into place the correct economic sector.

Frequently Asked Questions (FAQs)

What is the NIC Code for Wholesale of transport equipment except motor vehicles, motorcycles and bicycles?

The NIC Code of Wholesale of transport equipment except motor vehicles, motorcycles and bicycles is basically for particular industrial classification of this activity within the National Industrial Classification system that helps in classifying the business in a proper way.

What is the description of NIC Code 46592?

NIC Code 46592 comprises all the activities related to Wholesale of transport equipment except motor vehicles, motorcycles and bicycles, 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, is the one that issues and maintains NIC Codes.

What is the role of NIC Code in Udyam Registration for Wholesale of transport equipment except motor vehicles, motorcycles and bicycles?

In Udyam Registration, the NIC Code for Wholesale of transport equipment except motor vehicles, motorcycles and bicycles, is used to make sure that MSMEs are classified in the right way and the business can take government benefits, subsidies, and other advantages tied to compliance.

What is the two-digit Division NIC Code for Wholesale of transport equipment except motor vehicles, motorcycles and bicycles?

The two-digit Division NIC Code of Wholesale of transport equipment except motor vehicles, motorcycles and bicycles refers to the industrial sector in which this activity falls under which further breaks down to group, classes, and subclasses.

What is the three-digit Group NIC Code for Wholesale of transport equipment except motor vehicles, motorcycles and bicycles?

The three digits Group Code for Wholesale of transport equipment except motor vehicles, motorcycles and bicycles classifies the activity in the division along with other similar industries for proper categorization.