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Section and Rule Number(s) e Form MSME FORM-I is required to be filed pursuant to Order dated 22 January, 2019 issued under Section 405 of the Companies Act, 2013 and which are reproduced for your reference:

1. Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019, all companies, who get supplies of goods or services from micro and small enterprises and whose payments to micro and small enterprise suppliers exceed forty five days from the date of acceptance or the date of deemed acceptance of the goods or services as per the provisions of section 9 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006) (hereafter referred to as 'Specified Companies'), shall submit a half yearly return to the Ministry of Corporate Affairs stating the following:

a. the amount of payment due and
b. the reasons of the delay;

2. Every specified company shall file in MSME Form I details of all outstanding dues to Micro or small enterprises suppliers existing on the date of notification of this order within thirty days from the date of publication of this notification.

3. Definition of Micro Enterprise, Small Enterprise & Medium Enterprise


Micro Enterprise

  • A micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. 25 lakh;

A micro enterprise is an enterprise where the investment in equipment does not exceed Rs. 10 lakh;

Small Enterprise

  • A small enterprise is an enterprise where the investment in plant and machinery is more than Rs. 25 lakh but does not exceed Rs. 5 crore;

A small enterprise is an enterprise where the investment in equipment is more than Rs.10 lakh but does not exceed Rs. 2 crore;

Medium Enterprise

  • A medium enterprise is an enterprise where the investment in plant and machinery is more than Rs.5 crore but does not exceed Rs.10 crore

A medium enterprise is an enterprise where the investment in equipment is more than Rs. 2 crore but does not exceed Rs. 5 crore


4. Every specified company shall file a return as per MSME Form I annexed to this Order, by 31st October for the period from April to September and by 30th April for the period from October to March.

5. The date for filing of MSME form-1 was extended vide General Circular No. 01/ 2019 dated 21st February, 2019. Since the forms were under process with Ministry of Companies Affairs the date of filing was extended to 30 days from date of deployment on MCA21 portal.

Details required for filing forms which is introduced 1st May, 2019 

1. CIN of the Company
2. PAN of the Company
3. Total outstanding amount due as on date of notification of this order (i.e. 22nd January, 2019)
4. Individual Supplier's Particulars of the following:

  • Financial Year Start Date
  • Financial Year End Date
  • Name of Supplier
  • PAN of Supplier
  • Amount Due
  • Specify the date from which amount is due

5. Reasons for Delay in amount of payments due
6. Digital Signature of Director/ Manager/ CFO/CEO/CS

Links:

http://www.mca.gov.in/Ministry/pdf/MSMESpecifiedCompanies_22012019.pdf
http://www.mca.gov.in/Ministry/pdf/InitialReturnInMSMEForm_21022019.pdf
http://www.mca.gov.in/MinistryV2/companyformsdownload.html


 

Published by

Priyanka T
(CS)
Category Corporate Law   Report

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