MSME ACT 2006

Originally posted by : CA Rashmi Gandhi
	Whether the supplier is trader or manufacturer

As per query, it's not disallowed even if the supplier is mfg/ser.

Bcoz, the time limit is available.

If a company owes money to a small MSME Registered Enterprise for more than 45 days by March 31, 2024, and pays after April 1, 2024, they can only count it as an expense in the financial year 2024-25, not 2023-24.

Read this below article link for clear understand. 

https://www.caclubindia.com/articles/making-sme-payments-by-31st-march-2024-for-compliance-under-section-43bh-of-income-tax-act-51356.asp

Dear Experts,

Please note the query...

The bill date is 23.03.2024...

Please check and consider the bill date after reply based on the bill date with sec 43B(h).

Regards

Raja P M