MsME Return Date and how much rate of intt on over due payment

Form MSME I (half-yearly return) has to be filed within 45 days from the end of each half-year in respect of outstanding payments to Micro or Small Enterprise i.e. 30th April 2021 (for October 2020 to March 2021) 31st October 2021 (April 2021 to September 2021).

The section 405(4) which includes non-furnishing/incomplete/incorrect information penalty states a fine up to Rs.25000 (Co.,), Rs.25000/- (Min) & Rs.3 lacs (max) and imprisonment of 6 months for directors or both. Therefore it is mandatory for directors to file the MSME form 1.