Companies: File Half Yearly Statement of dues to Micro & Small Enterprises having outstanding for more than 45 Days

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Companies: File Half Yearly Statement of dues to Micro & Small Enterprises having outstanding for more than 45 Days

 

All companies, who get supplies of goods or services from micro and small enterprises and whose payments to micro and small enterprise suppliers exceed forty-five days from the date of acceptance or the date of deemed acceptance of the goods or services as per the provisions of section 9 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006) (hereafter referred to as “Specified Companies”), shall submit a half yearly return to the Ministry of Corporate Affairs stating the following:-

  1. the amount of payment due and
    b. the reasons of the delay;

Every specified company shall file a return as per MSME Form I, by  the due date which is 31st October 2020 for the period from April 2020 to September 2020.

If the payment is remaining due for more than 45 days then report the same to ROC the following details:

  1. Name of Suppliers (individually)
  2. PAN of suppliers (Individually)
  3. Amount due to suppliers ( Individually)
  4. Specify the date from which amount is due ( Individually )
  5. Reason for the DELAY, if any.

Company must ensure to file the same in e-Form MSME I.

CLASSIFICATION
SR NO. TYPE INVESTMENT IN PLANT AND MACHINERY FOR MANUFACTURING ENTITY INVESTMENT IN EQUIPMENTS EXCLUDING LAND AND BUILDING FOR SERVICE ENTITY
1 MICRO LESS THAN 25 LAKHS LESS THAN 10 LAKHS
2 SMALL 25 LAKHS TO 5 CRORE 10 LAKHS TO LAKHS
3 MEDIUM 5 CRORE TO 10 CRORE 1 CRORE TO 5 CRORE
* IF THE PAYMENT IS REMAINING DUE FOR MORE THAN 45 DAYS THEN REPORT THE SAME TO ROC THE FOLLOWING
SR.NO PARTICULARS REMARKS
1 NAME OF SUPPLIERS ___________________________________
2 PAN OF SUPPLIERS ___________________________________
3 AMOUNT DUE TO SUPPLIERS ___________________________________
4 DATE FROM WHICH AMOUNT IS DUE ___________________________________
5 REASONS OF THE DELAY ___________________________________
* THE TIMELINE FOR FILING OF E-FORM MSME I IS ON OR BEFORE 31.10.2020

1 Comment

  1. October 17, 2020
    C. Radhakrishnan

    It is a welcome measure as far as MSME is concerned. But Companies are already complying a lot of reports under various statutes. It will add further tension.

    Reply

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