Types of registration in entrepreneurship development, Mechanical Engineering

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Types of Registration

Provisional Registration Certificate (PRC)

  • This is given for the pre-operative period and enables the units to obtain the term loans and working capital from financial institutions/banks under priority sector lending.
  • Enables to obtain facilities for accommodation, land, other approvals etc.
  • Helps to obtain various necessary NOCs and clearances from regulatory bodies such as Pollution Control Board, Labour Regulations, etc.

Permanent Registration Certificate

Enables the unit to get the following incentives/concessions :

  • Excise exemptions.
  • Income-Tax exemption and Sales Tax exemption as per State Govt. Policy.
  • Incentives and concessions in power tariff etc.
  • Price and purchase preference for goods produced.
  • Availability of raw material depending on existing policy.

Procedure for Registration

Features of the present procedures are as follows :

  • A unit can apply for PRC for any item that does not require industrial license, which means items listed in Schedule-III and items not listed in Schedule-I/II of the licensing Exemption Notification. Units employing less than 50/100 workers with/without power can apply for registration even for those items included in Schedule-II.
  • Unit applies for PRC in prescribed application form. No field enquiry is done and PRC is issued.
  • PRC is valid for five years. If the entrepreneur is unable to set up the unit in this period, he can apply afresh at the end of five years period.
  • Once the unit commences production, it has to apply for permanent registration on the prescribed form.

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