MSME Compliance – MSME Form I

Notification Date:   22.01.2019

Effective Date: It shall come into force from the date of its publication in the Official Gazette.

Types of Company:  Specified Companies

Specified Companies: All Companies

1. who get supplies of goods or services from micro and small enterprises and

2. 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.

Return periodicity: Half yearly Return to the Ministry of Corporate Affairs stating the following:

• the amount of payment due; and
• the reasons of the delay;

Details to be provided in the MSME Form I:

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.

Due Date to file the form:

Extension of Due Date: Vide General Circular No. 1/2019 [F.No. 17/6/2017-CL.V(PT I)], dt. 21-2-2019

Pending the deployment of MSME Form I on MCA 21 portal and in order to avoid inconvenience to stakeholders on account of various factors, it is stated the period of thirty days for filing initial return in MSME Form 1 as specified in Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019 dated 22-1-2019 shall be reckoned from the date the said e-form is deployed on MCA 21 portal.

2.This issues with the approval of competent authority.