The is an official statutory template used by business owners, traders, and entrepreneurs to declare their current inventory and book debts. Submitting this periodic declaration is a mandatory requirement for maintaining operational working capital credit limits up to ₹10 lakhs , such as Open Cash Credit (OCC), Secured Overdraft (SOCC), or Packing Credit facilities.
Break down your business inventory values exactly by category into four financial buckets:
: List procurement cost values or current market rates, whichever is lower.
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Yes, except for accounts with NPAs or those under liquidation.
Yes. The official PDF is usually fillable via Adobe Acrobat. A fillable Excel template is also available at select branches.
A standalone NF-1003 PDF is not sufficient. You must attach:
: Financial analysts and loan officers use the data from the NF-1003 to conduct ongoing credit reviews. Regularly submitted stock statements provide a dynamic picture of a business's health, showing trends in inventory management and sales velocity.
Specifically, this form is used for:
Information regarding the insurance coverage for the godown/stock, including the policy amount and validity date.
Make sure all declared stock is properly insured, and the insurance policy is noted on the statement.