In today article we are going to discuss about the if Medium and small enterprises gives the goods or services on the credit and payment not recovered from the buyer after giving the multiple reminders. For the recovery of the payment of the MSMEs the government of India introduced the portal for file the complain to the ministry of MSME.
Brief about the MSME Samadhan Scheme
Micro, Small and Medium Enterprise Development (MSMED) Act, 2006 contains provisions to deal with cases of delayed payment to Micro and Small Enterprises (MSEs). As per the provisions, the buyer is liable to pay compound interest with monthly rests to the supplier on the amount at three times of the bank rate notified by Reserve Bank in case he does not make payment to the supplier for the supplies of goods or services within 45 days of the day of acceptance of the goods/service or the deemed day of acceptance.
Process For Filing the Claim Under MSME Samadhan Scheme:
1. Visit the MSME ministry’s delayed payment filing and monitoring portal at samadhaan.msme.gov.in
2. Click on ‘Case Filing for Entrepreneur/MSE Units’
3. Specify your MSME registration type — Udyog Aadhaar Number or Udyam Registration Number
4. Input your registration number, mobile number (as in the registration certificate), and verification code
5. Click on ‘Validate Udyog Aadhaar’ or ‘Validate Udyam Registration’ as per your registration type
6. Input the OTP sent to your registered mobile number or email address for verification
7. Upload PDFs of required documents (each no larger than 2MB), such as work orders from the buyer and invoices you’ve issued against these orders
8. Click ‘Submit’ to complete the application process
9. You will receive an acknowledgement and the contact details of the relevant MSEFC in your state
Documents Required the Filing the Claim Under MSME Samadhan Scheme
To file a complaint on the portal, the MSME supplier needs to provide certain documents that prove the delayed payment and support their claim. These documents are essential to initiate the resolution process and provide a factual basis for the complaint. The following are the documents required for MSME Samadhaan:
1. A copy of the invoice(s) raised by the MSME supplier.
2. A copy of the agreement or purchase order between the MSME supplier and the buyer. If the purchase order was oral, an affidavit to that effect should be filed.
3. Proof of delivery of goods or services by the MSME supplier.
4. Any other relevant document that supports the claim of the MSME supplier.
Conclusion: Empower your MSME by navigating the MSME Samadhaan Scheme effortlessly. With clear instructions on the filing process and necessary documentation, this article serves as a guide for entrepreneurs facing delayed payments. Take advantage of the government’s initiative to ensure fair and timely compensation for your goods or services.
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Feel free to contact the author for further clarification at 8279255794 or via mail at cspiyush94@gmail.com@gmail.com. The author is the founder of Piyush Goyal & ASSOCIATES (Practicing Company Secretaries Firm) based in Delhi, Mumbai & Jaipur. You can visit my YouTube channel CS Piyush Goyal for Regular updates on the Corporate law and tax laws
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