Mandatory Submission of E-Form MSME-1 with MCA by Specified Companies-As per the MCA Notification dated 22nd Jan, 2019.
Snippet of the Notification;
(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.
1. As per the above notification every specified company (Received Goods &/or Services ‘from’ MSME and whose payment is due or not paid within 46 days) dealing with MSME shall mandatorily file a return with MCA in e-form MSME-1.
There are two types of return:
A) One Time Return (Due date to file-within 30 days of publication of these rules i.e. 20th February, 2019 from the notification date (i.e. 22nd January, 2019 + 29 days)
Information required to submit in One Time Return
* Total outstanding amount due as on 22.01.2019
* Particulars of Supplier (Financial years/particulars/Name/Pan No/Amount due/date from which the amount due etc.)
* Reasons for delay.
B) Half Yearly Return
Due date of filing of Half Yearly Return ~
* For half year period ‘October to March’ – 30th April
* For Half year period ‘April to September’ – 31st October