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New Reporting requirement: Amount due toward MSME

CA Pradeep Kumar Rajput 
on 20 February 2019

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What is the matter?

The government vide its notification no SO No. 368(E) (F. No. 17/06/2017-CL-V) mandated the half-yearly reporting of the amount due toward MSME (Micro And Small Enterprises). if not paid within 45 days.

What is MSME?

Classification of Enterprises under MSMED Act, 2006


(on the basis of Investment in Plant, Machinery or Equipment)

Enterprises Engaged in the Manufacture or Production of Goods

Enterprises Engaged in Providing or Rendering of Services

Micro Enterprise

Upto INR 25 Lacs

Upto INR 10 Lacs

Small Enterprise

INR 25 Lacs to INR 5 Crores

INR 10 Lacs to INR 2 Crores

Medium Enterprise

INR 5 Crores to INR 10 Crores

INR 2 Crores to INR 5 Crores


What is the reporting Frequency?

Each company is required to report the amount due toward the MSME on or before 31st Oct for the quarter ending April to Sept and on or before 30th April for the quarter ending with Oct to March.

First reporting shall be done by 22-02-2019.

What are the details to be reported?

For each half year ending the company shall report the following:

  1. Financial Year.
  2. Name of the Supplier.
  3. PAN of the Supplier.
  4. Amount Due.
  5. Date from which amount due.
  6. Reasons for the amount outstanding.

What is the initial reporting requirement?

This is being the first reporting period the company shall furnish the following details:

  1. Total outstanding amount due as on date of notification
  2. Financial Year.
  3. Name of the Supplier.
  4. PAN of the Supplier.
  5. Amount Due.
  6. Date from which amount due.
  7. Reasons for the amount outstanding.

Who shall certify the details?

The form shall be certified by any one of the following:

  1. Director.
  2. CEO
  3. Manager of CEO
  4. Company Secretary

How and Where to report the details:

The details are required to be reported to the Ministry of Corporate Affairs by filing the form MSME-1.

What if no/incorrect details furnished?

If any company fails to furnishes the required information or statistics or furnishes the details which are incorrect or incomplete in any material respect, the company shall be punishable with fine which may extend to twenty-five thousand rupees and every officer of the company who is in default, shall be punishable with imprisonment for a term which may extend to six months or with fine which shall not be less than twenty-five thousand rupees but which may extend to three lakh rupees, or with both.


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Category Corporate Law
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CA Pradeep Kumar Rajput 

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