Someone please clarify in detail the notification no. 368(E) issued by MCA Dtd. 22 January 2019.
1.who needs to submit such details?
2.From which date we should calculate 45 days if supplier supplied goods on a certain date and then issues invoice say after 20 days?
Your reply will be greatly appreciated.
Thank you.
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Submission of details of outstanding dues to MSME
Replies (4)
1. Every Company “Public or Private” who Received Goods or Services ‘from’ Micro or Small Enterprises ‘of which’ Payment Due or Not Paid till 45 days
2. Forty five days from the date of acceptance or the date of deemed acceptance of the goods or services. (i.e. from the date you received goods)
But if the msme supplier issues invoice late then how can the company pay him in 45 days?
This is reporting as per the rule, and rarely it happens that any supplier do not issue invoice when E-way bill generation has crop up.
45 days sis the standard overdue period as notified by MCA. That means if any dues are pending for more than 45 days as on 22.01.2019, you will have to report the amount.
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