A Company is regular in making payments to its MSME suppliers within 45 days and in no case payment is made beyond 45 days. Whether, still the Company is required to file MSME-1 form with ROC under the Companies Act, 2013?
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Requirement of filing of form MSME-1
Replies (1)
Filing MSME-1 Form As per the Companies Act, 2013, and the MSME Development Act, 2006, companies are required to file the MSME-1 form with the Registrar of Companies (ROC) if they have outstanding dues to Micro, Small, and Medium Enterprises (MSMEs) beyond the agreed payment period or 45 days, whichever is earlier. Key Point -
*No Outstanding Dues*: If your company is regular in making payments to MSME suppliers within 45 days and has no outstanding dues beyond 45 days, you may not be required to file the MSME-1 form. Recommendations - *Verify Requirements*:
Verify the specific requirements and exemptions under the Companies Act, 2013, and MSME Development Act, 2006. -
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