Dear Professional Colleague
Subject: Facilitation, Coordination and Knowledge Support by ICSI – Request for issuance of clarification for MSME Form I - Further update
The Institute of Company Secretaries of India (ICSI) had made representations to the Ministry of Corporate Affairs (MCA) pertaining to the recently notified Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019 on account of practical difficulties being faced by the stakeholders.
It had been requested that appropriate clarification be issued that MSME Form I will be deployed shortly and also that non-filing due to non-availability of this Form by February 21 would not result in non-compliance of the provisions of Companies Act, 2013.
We are pleased to inform you that the MCA while considering our request favourably has vide its Circular dated 21st February, 2019 extended the last date of filing initial return in MSME Form I stating that “the period of thirty days for filing initial return in MSME Form 1 as specified in Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019 dated 22.01.2019 shall be reckoned from the date the said e-form is deployed on MCA 21 portal”
A copy of the said circular is available at the link:
(CS Ranjeet Pandey)
The Institute of Company Secretaries of India