1) Introduction: Whereas, the Central Government vide notification S.O. 5622 (E), dated, 2nd November, 2018 has directed that all companies, who get supplies of goods or services from Micro & Small Enterprises & whose payments to Micro & Small Enterprise suppliers exceed 45 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 & Medium Enterprises Development Act, 2006, (hereinafter 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
2) The reasons of the delay in the payment
2) Order: Now, thereafter, in exercise of the powers conferred by Section 405 of the Companies Act, 2013, the Central Government hereby makes the Order named as Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019.
3) Date of Enforcement: It shall come into force from the date of its publication in the Official Gazette.
4)Time Period: Every Specified Company shall file in MSME Form I details of all outstanding to Micro or Small Enterprises suppliers existing on the date of notification of this Order within 30 days from the date of publication of this notification.
5) Duration of Filing: Every Specified Company shall file a Return as per MSME Form I as under:
a) by 31st October for the period from April to September &
b) by 30th April for the period from October to March
6) Particulars of Form:
1. Details of the Company
2. Total Outstanding Amount due as on the date of notification of this order
3. Particulars of the Name of the Suppliers & the amount of Payment due
4. Regular Return of Outstanding Dues to Micro & Small Enterprises
5. Reasons for the delay in amount of payment due
6. Attachments if any
7. Declaration by the Director or CEO or Company Secretary of the Company.
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