Ministry of Micro, Small, and Medium Enterprises (MSME) has issued a notification under the MSME Development Act, 2006, mandating companies to report payment delays to micro and small enterprises. As per Section 9 and Section 15 of the Act, companies that procure goods or services from MSMEs and fail to clear payments within 45 days from the date of acceptance or deemed acceptance must submit a half-yearly return to the Ministry of Corporate Affairs. The return should include the total outstanding amount and the reasons for the delay. This requirement aims to improve payment transparency and ensure timely financial support for MSMEs.
MINISTRY OF MICRO, SMALL AND MEDIUM ENTERPRISES
NOTIFICATION
New Delhi, the 25th March, 2025
S.O. 1376(E).—In exercise of powers conferred by section 9 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006) and read with section 15 of the said Act, the Central Government hereby directs 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 the said Act, shall submit a half yearly return to the Ministry of Corporate Affairs stating the following:
a. the amounts of payments due; and
b. the reasons of the delay.
[F. No. 16/8/2018/E-P&G/Policy]
Dr. RAJNEESH, Addl. Secy. and Development Commissioner
