MSME

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Trading companies obtaining an MSME certificate erroneously could face significant penalties under Section 405(4). This includes fines ranging from a minimum of ₹25,000 up to ₹3 Lakhs. Additionally, directors may be subject to imprisonment for up to six months, or both penalties may apply.

Smrity

Smrity (Querist)
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13 May 2020 What charges shall a Trading company face for obtaining MSME certificate erroneously

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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13 May 2020 The section 405(4) which includes non-furnishing/incomplete/incorrect information penalty states a fine up to Rs. ... 25000/- (Min) & Rs. 3 lacs (max) and imprisonment of 6 months for directors or both.

Smrity

Smrity (Querist)
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25 September 2020 Thanks for your reply sir....

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