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Payment to MSMEs

This query is : Resolved 
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(Querist)
28 March 2023 Hi,

As per our payment policy, we have to release the payment to our vendors after receiving payment from our customers for that particular project.

But if the liability is there in our books of MSMEs and we didn't receive payment for that project, then what should we do in this case if the payment deadline of 45 days is going to end.

Please suggest.

Regards
Ashu Gupta
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
29 March 2023 The Company is liable to pay interest on delayed payment to MSME registered supplier. Rate of Interest: Rate of Interest shall be three times of the bank rate notified by the Reserve Bank.
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