Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019- Every specified company shall file in MSME Form I details of all outstanding dues to Micro or small enterprises suppliers existing on the date of notification of this order within thirty days from the date of publication of this notification.
Government of India
Ministry of Corporate Affairs
Notification
22 January, 2019
S.O. 368(E).-Whereas, the Central Government vide notification number S.O.5622 (E), dated the 2nd November, 2018 has directed that 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:
(a) the amount of payment due; and
(b) the reasons of the delay;
And whereas, in exercise of power under section 405 of the Companies Act, 2013, (18 of 2013} the Central Government, considers it necessary to require “Specified Companies” to furnish above information under said section of the Act.
Now, therefore, in exercise of the powers conferred by section 405 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following Order, namely:-
1. Short title and commencement.- (1) This Order may be called the Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019.
(2) It shall come into force from the date of its publication in the Official Gazette.
2. Every specified company shall file in MSME Form I details of all outstanding dues to Micro or small enterprises suppliers existing on the date of notification of this order within thirty days from the date of publication of this notification.
3. Every specified company shall file a return as per MSME Form I annexed to this Order, by 31st October for the period from April to September and by 30th April for the period from October to March.
MSME FORM I
(see Order 2 and 3)
Form for furnishing half yearly return with the registrar in respect of outstanding payments to Micro or Small Enterprises.
[Pursuant to Order dated 22 January, 2019 issued under Section 405 of the Companies Act, 2013]
********* ********* *********
[F. N. 17/6/2017-CL-V]
K.V.R. Murty, Jt. Secretary
My customer is not making payment against my material supplied to him from last 1 year. What can I do in MSME rules against him ? as i am MSME registered.
Which Companies are not SPECIFIED for the purpose of “Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019 dated 22 January, 2019 issued under Section 405 of the Companies Act, 2013.” ?
THE BUREAUCRACY IN THE NAME OF HELPING MICRO SMALL AND MEDIUM SIZE INDUSTRIES IS KILLING THE ENTREPRENEURSHIP BY MAKING THEM TO FILL USELESS FORM AND RETURNS. THE BUREAUCRATS ARE NOT HAPPY IF THERE IS COMPLIANCE.THEY ARE VERY HAPPY IF THERE IS A FAILURE AND THEY CAN CREATE HARASSMENT TO THE BUSINESSPERSONS.
We do not have any pending payables for MSME vendors(More than 45 days), we need to file the nil return. Please advise
MSME FORM 1 IS APPLICABLE TO LLP FIRM ?
How the buyer (company) determines a supplier as MSME Enterprise? Is MSME enterprise to share the certificate and memorandum with the buyer company? Is the onus on the buyer to identify MSME and make payments within 45 days or MSME enterprise to submit documents that enterprise is an MSME enterprise and entitled to payment early?
A TRADING FIRM LIKE HARDWARE PARTS SUPPLIER, WHO PURCHASE HARDWARE PARTS FROM ANY MANUFACTURER AND SALE TO ANY FIRM CAN BE CONSIDER AS MSME ENTERPRISE ? AS HE IS NOT MANUFACTURER OR SERVICE PROVIDER.
DO Partnership Firm also needs to file Form I if it gets goods from MSME?
Though it is specified in the order that all companies who are availing services or procuring goods are required to furnish return.
But CG has not clearly notified that which are specified companies.
Can please just provide information about this.
Thanking you
what is specified companies
As per the notification Is it necessary for any company/LLP/Firm to get confirmation from all suppliers whether they are registered under MSME?
Companies that have procured or availed supplies from the establishments as in section 9 of MSME Act, 2006 are the specified companies and not all companies to make this half yearly return.
specified company is mention above
but
S.O. 368(E).-Whereas, the Central Government vide notification number S.O.5622 (E), dated the 2nd November, 2018 has directed that all companies
so whether specified or all companies we will take???
reply asap
what is a specified company