MSME FORM I REPORTING

 (Mandatory Reporting of specified Companies in respect of MSME Dues)

MCA NOTIFICATION

MCA 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;

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.

Relevant Notification : Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019

MEANING OF SPECIFIED COMPANIES

Specified companies means public or private 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)

DUE DATE OF MSME FORM I

Two type of Return required to file by specified company –

One time Return – Due date 22 Feb 2019

Half Yearly Return –

April to September – Due date 31 October

Oct to Mar – Due date 30 April

INFORMATION TO BE REQUIRED FOR FILING MSME FORM I

1. CIN Number of Company

2. PAN Number of Company

3. Total Outstanding Amount due on Date of Notification (22/01/2019) (Including all suppliers)

4. Name Of Suppliers (individually)

5. PAN of Suppliers (individually)

6. Amount due to suppliers (individually)

7. Specify the date from which amount is due (individually)

8. Reasons of the DELAY, if any.

DETERMINATION OF MSME

Moreover following is the reference chart from where one can determine whether a firm/. Company come under MSME sector or not:

Manufacturing Sector
Enterprises Investment in plant & machinery
Micro Enterprises Does not exceed twenty five lakh rupees
Small Enterprises More than twenty five lakh rupees but does not exceed five Crore rupees
Medium Enterprises More than five Crore rupees but does not exceed ten  Crore rupees
Service Sector
Enterprises Investment in equipments
Micro Enterprises Does not exceed ten lakh rupees:
Small Enterprises  More than  ten lakh rupees but does not exceed two crore rupees
Medium Enterprises  More than two crore rupees but does not exceed five core rupees

NOTE: The above chart is based upon the notification of Government issued vide notification ,vide S.O. 1642(E) dtd.29-09-2006 which has been prescribed by the Government of India by enacting the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises has been provided.

Author Bio

Qualification: CS
Company: Ishrat Siddiqui & Associates
Location: Gurgaon, Haryana, IN
Member Since: 31 Jul 2018 | Total Posts: 6
Ishrat Siddiqui,(B.COM, ACS), PRACTICING COMPANY SECRETARY FROM GURGAON. She is Associate Member of The Institute of Company Secretaries of India. Her domain is in assignments related to Companies Act 2013, Secretarial Audit, FEMA,Taxation . etc View Full Profile

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