MSMED act, latest notification

190 views 2 replies

Mayur Chitnis

40 Points Joined July 2017

Hi,

As per latest notification from Government, any company who is working with MSME registered company needs to inform MCA about delays in payments.

Query:- We are registered under MSME act and MSME registered company work for us/ are our creditors. Do even we have to follow this?
which companies need to follow this? Can you share link?

Thanks in Advance

Replies (2)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

208912 Points Joined July 2016

Its mandatory to file form MSME 1 by all companies, registered under companies act, ....... .......having creditor/ vendor which are registered as a MSME registered creditor/vendor and who get supplies of goods or services from micro, small and medium enterprises and whose payments to micro, small and medium enterprise suppliers exceed (45) forty five days from the date of acceptance, as per the provisions of Section 9 of the Micro, Small and Medium Enterprises Development Act, 20O6, shall submit MSME-1 to MCA stating the amount of payment due and reasons of the delay.