MSME Payment rule within 45 days

The new rule for payment to MSME vendors within 45 days is applicable from 1st April 2024. But is this rule applicable to creditors outstanding as on 1st April 2024 or bills raised after 1st April 2024 to MSME vendors.

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Quick Summary
A new rule mandates payments to MSME vendors within 45 days, effective from April 1st, 2024. This applies to the financial year 2024-25. The discussion seeks clarification on whether this rule covers outstanding creditor amounts as of April 1st or only bills raised after this date.

It's applicable for the AY 24-25...
It's about financial year

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