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Interest on delayed payments to suppliers under msmed act

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 June 2013 Whether Interest is payable to Medium Enterprises for Delayed payments ?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
14 June 2013 Yes.as per the act it is payable, but practically it is only provided in the books
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Querist : Anonymous

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Querist : Anonymous (Querist)
17 June 2013 Thanks for the reply sir, My question was whether the interest is payable to Medium Category Enterprises, we are already paying for Small & Micro category enterprises
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saurendra rautray

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saurendra rautray (Expert)
12 April 2020 Dear Sir, A medium unit is not eligible to get the benefit of MSMED Act as it is limited to only Micro and Small manufacturer or service provider.
Saurendra Rautray
Rautray & Co
New Delhi
9437008255
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