Sir,
As per MSME act, compulsory payment should be done with in 30 days. if not what are the consequences.
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MSME payment
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Quick Summary
Not 30 days msme supplier payment terms is 45 days
What consequences would be faced when payment not done with in 45 days
U must paid intrest on delay days .suppose u r payment due on 31 March 22 but u paid on 15 April 22 u will be paid intrest of 14 days .rate of intrest three times as per notify by RBI
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