UNDER WHICH NIC 2008 LIE

[Guest]

Hello,

Can anybody tell me about NIC code category for FC-GPR form in NIC code- 2008 published for a company whose business is purchasing non performing assets from banks and settled it. It is working as assets reconstruction company. Its urgent.

[Mahir S]

Please click on below mentioned link :-

http://dipp.nic.in/English/Investor/Investers_Gudlines/NIC_codes/nic.htm

[Guest]

But sir this NIC 1987 list has been revised and now NIC 2008 comes in force. In NIC 2008 it will be covered in Section K for Financial and insurance activities but i have a confusion regarding in which class. Because as per my point of view it will be considered in 64990 sub class of section K. Please rectify me if I am wrong in respect of it class.

[Mahir S]

It shall fall under schedule K and Div. 64

Yes, 64990 seems to be proper.

[Mahir S]

http://www.fipbindia.com/NIC%20Code%202008.pdf

[Guest]

Thank You sir.

AI Summary

NIC code classification indicates asset reconstruction companies fall under financial and insurance activities with an appropriate industry class. The company purchasing and settling non performing assets (an asset reconstruction company) is classified within Financial and Insurance Activities under NIC 2008 and is indicated as falling in Division 64 with class 64990 as the appropriate industrial code for FC GPR reporting.