What is DSIR recognition?
DSIR (Department of Scientific and Industrial Research) Recognition holds significant value for companies engaged in research and development (R&D) activities. This esteemed certification, granted by the Government of India, serves as a testament to a company's dedication to innovation and technological progress. It goes beyond just a recognition; it symbolizes a commitment to pushing the boundaries of knowledge and contributing to India's growth as a hub of innovation.
How do I get DSIR recognition?
To get DSIR recognition : Submit application (soft copy & hard copy) to DSIR --> Discussion at DSIR's office --> receipt of recognition letter.
What is DSIR certificate used for?
DSIR recognition certificate is used for the following:
1. Exemption from custom's duty on imports made for R&D
2. Your maximum applicable iGST becomes 5% on purchases made for R&D.
3. To become eligible for various govt. funds and grants.
What is the meaning of DSIR?
DSIR stand for Department of scientific & industrial research. Although the term 'DSIR' is sometimes casually used for DSIR's 'In-house R&D' recognition.
What is DSIR exemption?
DSIR exemption is sometimes used to refer various tax relaxations like custom duty exemption, GST relaxation etc.
What is R&D as per DSIR for DSIR recognition?
For getting DSIR In-house R&D recognition, any one of the following can be considered R&D:
1. New product development (NPD) - It includes product improvements.
2. New process development - It includes process improvements.
3. Cost reduction - making changes in product so that the cost comes down.
4. Import substitution - Developing a product in India which is majorly imported in India so that it substitutes import of that product partially or wholly.
What are the eligibility criteria for DSIR recognition?
Following are eligibility criteria for DSIR recognition:
1. The applicant company should be a registered company under The Companies Act i.e. the company should be a Ltd. or a Pvt. Ltd. company. Any other status like LLP or partnership firms are not eligible.
2. The applicant company should be product company i.e. your company should be developing at least 1 product. Services company won't be considered for this recognition.
3. The applicant company should be at least 3 years old since the date of registration as a Pvt. Ltd or a Ltd. company. There is an exception to this criteria applicable only to Biotech startups.