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 your organisation is registered as an MSME, you can add its MSME details and display the MSME/Udyam Registration Number in your organisation’s address in transaction PDFs to stay compliant with section 43B(h) of the Finance Act 2023. Add Your Organisation’s MSME Details If your organisat...
But the provision of Section 405 of Companies Act 2013 shall be applicable on failure to file MSME-1: – Fine: On Company: Up to INR 25,000. On officer who is in default: (1) Fine: Between rupees 25000 to 300000, OR (2) Imprisonment up to 6 Months OR, (3) Both Reply Bharat...