MSME NEW LAW PAYMENT WITHIN 45 DAYS
This query is : Resolved
26 February 2024
Sir
MSMe ka jo naya law he payment 45 days me karna hoga.
agar hamare purchase order me 90 days ka payment team he to bhi hame kya 45 days me payment karna hoga.
MSMe ka jo naya law he payment 45 days me karna hoga.
agar hamare purchase order me 90 days ka payment team he to bhi hame kya 45 days me payment karna hoga.
26 February 2024
No it's not possible.
In case there is a written agreement, payment shall be made as per the agreed-upon timeline, not exceeding 45 days.
In case there is a written agreement, payment shall be made as per the agreed-upon timeline, not exceeding 45 days.
26 February 2024
Purchase Order me 90 din ka payment he and do no party ki sign bhi he. fir bhi hame 45 days me hi payment karna pade ga
26 February 2024
Yes, in this case also 45 days applicable.
27 February 2024
Even if agreed period is more then also you need to pay in 45 days of there is any written agreement.
16 August 2025
The law is clear: statutory 45-day payment period applies irrespective of any longer contractual terms for MSME suppliers. Compound interest at three times the RBI bank rate is payable on delayed payments beyond 45 days. Under Section 43B(h) of the Income Tax Act, such delayed payments cannot be claimed as a deductible expense unless actually paid within the statutory limit. Any contractual term that provides a longer payment period (e.g., 90 days) cannot override the statutory requirement.
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