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Reversal of Interest provision in case of MSME buyer

This query is : Resolved 
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(Querist)
10 January 2025 If a MSME vendor for reasons of negligence/ignorance forgets to claim interest on delayed payments, can we as a buyer reverse the provision we made for Interest and if yes when?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
14 January 2025 since the language of the act states that you shall be liable to make the interest payment, i do not think whether the buyer forgot to make claim or not, makes any difference. Your liability stands and it needs to be paid off to the vendor.
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