Payment to MSMEs
This query is : Resolved
ashu gupta
(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
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
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Ito add credit side of bank
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Employee secondment
- GSTR9 Annual Return
- Rent agreement of House of deceased person
- Capital gain on commercial property and investment in residential property
- Rectification under processing even after 6 months cpc portal
- Gift to nri relatives resides in usa
- Form 144 TDS Return Validation error
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
