Section 43B(h) - New MSME 45 Days Payment Rule To safeguard the interests of Micro and Small Enterprises (MSMEs) and ensure their payments are made promptly, Clause (h) in Section 43B, introduced by the Finance Act 2023, stipulates that if payments to MSMEs are not completed within the pr...
If the suppliers of goods and services are MSME registered and to whom payment is delayed for more than 45 days on the notification date i.e. 22nd January 2019 than Form MSME – 1 is mandatory to file with a reason of delay. Contact your creditors to know whether they are MSME registere...
• 45 days from the date of Delivery/ deemed date of Delivery, whichever is earlier Note:15 days from the date of acceptance or the day of deemed acceptance of any goods or services from a supplier would be treated as the credit period if nothing is agreed between the Buyer and Supplier...
A.The companies eligible to file FORM MSME-1 have taken money from MSMEs and have yet to return it. Simply put, every company which has received services or goods from MSMEs and payment for those services hasn’t been made 45 days after receiving them has to file MCA form MSME-1. ...