Hello ..Just want to clarify that is it necessary for Micro,Small,Medium enterprise to give self declaration to compnay to whom they are supplying materials to declare that they belong to that category and if they didn't declare then what penalty are imposed on such MSME entity???
Hi,
There is no such requirement under the MSMED Act 2006 for any such delcaration.
Regards
Saurendra Rautray
Rautray & Co
New Delhi
www.rautray.com
09437008255
Hi,
Penalty is not much but remember if its reflect in your account with the name of the supplier then you shall be liable for such payment form the date of delaration for another 3 years from the date of declaration.
regards
saurendra
09437008255
www.rautray.com
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