MSME Query urgent 1

HELLO

SHOULD WE CLEAR ALL PAYMENTS TO MSME BEFORE 31ST MARCH, 2024? OR THE RULE IS APPLICABLE FROM 1ST APRIL, 2024?

Replies (4)
Quick Summary
This discussion clarifies the deadline for MSME payments. The rules are applicable from Assessment Year 2024-25, which means they are effective from the financial year 2023-24. Therefore, all outstanding MSME payments should be cleared by 31st March 2024 as per the act.

The Rules is applicable from AY 2024-25.
Means, it's applicable in the FY 23-24. So, as on 31st March 24 clear the outstanding payment as per the act.
The rule is applicable from A.Y 2024-25 i.e from 1.4.2023.
All payments means
Rule was applicable from 01.04.2023 and you have to clear all payments by 31 March 2024.

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