Dear Friends,
We need to show Interest Payable for Delayed in payment to MSME Suppliers in the Annual Financial Statements?. It is mandatory or not?
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Interests for MSME Suppliers
Replies (4)
Yes, it is mandatory to show interest .Since it is a statutory liablity on business to pay interest for delayed payment to MSME irrespective of contract with party.
But our Vendors are not demands any interest, as well our company is not willing to pay Interest. In this case how do we show in the Financial Statement?
Also in this case you have to calculate interest and pay with principal amount to vendor.
Ok Garima Bhai
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