1. MSME FORM IS REQUIRED TO BE FILLED BY FOLLOWING COMPANIES:-

1. Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019, 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;

 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

2.CHECK THE DATE OF ACCEPTANCE AND DEEMED ACCEPTANCE CAREFULLY

As per MSMED ACT, 2006, Date of Acceptance means:

(a) the day of the actual delivery of goods or the rendering of services; or

(b) where any objection is made in writing by the buyer regarding acceptance of goods or services within fifteen days from the day of the delivery of goods or the rendering of services, the day on which such objection is removed by the supplier.

As per MSMED ACT, 2006, Date of Deemed Acceptance means where no objection is made in writing by the buyer regarding acceptance of goods or services within fifteen days from the day of the delivery of goods or the rendering of services, the day of the actual delivery of goods or the rendering of services.

3. MSME FORM IS TO BE FIILED BY ONLY SMALL AND MICRO COMPANIES AND MEDIUM COMPANIES IS OUT OF THE PREVIEW OF FILLING SUCH FORM

The followings companies are not required to file Form MSME-1:

  • The Companies who have no outstanding dues from the Micro and Small Enterprises.
  • The Companies who have outstanding dues to Micro and Small Enterprises of less than 45 Days

4.NIL REPORTING

There is no requirement for NIL Reporting. The following companies are not required to file any return:

  • The Company which is not a ‘Specified Company’.
  • The Company which does have any MSME Supplier.
  • If the outstanding dues does not exceed 45 days at any time during the half year

INFORMATION REQUIRED TO BE FILLED IN MSME FORM

Information required to be submitted with ROC in Form MSME-1 includes:

  • Name of the Supplier.
  • PAN of the Supplier.
  • Total Outstanding Amount Due.
  • Date from which the amount is due.
  • Reasons for the delay in payment.
  • Financial year to which the dues are related to.

PURPOSE TO FILE MSME-1 FORM

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 return to the Ministry of Corporate Affairs in the interval mentioned below

a. Initial return or

b. Regular half yearly return

1. April to September

2. October to March.

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One Comment

  1. Mahendra Nichani says:

    Sir,
    How does one determine whether the supplier is MSME Supplier or not, since usually MSME Reg.no. is not printed on the Invoice. That itself entails a tedious task of contacting each and every supplier and calling for submission of MSME Certificate.
    Before asking for such compliances, printing of MSME Reg.No.on the Invoice should have been made mandatory.
    Is there any easier way to squeeze ourselves out of such situations.

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