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Corporate Law : Union Budget 2025-26 enhances MSME investment and turnover limits, increases credit guarantees, introduces new schemes for women a...
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Income Tax : Understand the implications of the corrigendum to Income Tax Notification No. 27 of 2024. Get insights into the changes and their ...
Corporate Law : Discover the Air Cooler and Air Filters Quality Control Order 2023 by the Ministry of Commerce and Industry. Learn about standards...
Corporate Law : Explore the Ministry of Commerce and Industrys latest order on Potable Water Bottles (Quality Control) 2024 in New Delhi. Learn ab...
Article explains Law Governing the file of MSME- I Form as notified vide Notification Date 22-01-2019, Due Date to File Return, Important Definition, Details Required in Form MSME-I, Procedure to file Form MSME-I, Penalty for Non-Filing of Form MSME-1 and Exemptions to the Rule related to filing of Form MSME-I. Governing Law MCA wide order […]
Recently, Ministry of Corporate Affairs has introduced MSME FORM I pursuant to Order 2 & 3 dated 22 January, 2019 issued under Section 405 of the Companies Act, 2013 for furnishing Initial and Half Yearly return with the Registrar of Companies with respect to outstanding payments to Micro or Small enterprises. The intention of introducing […]
Request Letter Sub: To confirm whether your enterprise is Micro or Small Enterprise or not under the Micro, Small and Medium Enterprise Development Act, 2006. Dear Sir/Madam, With reference to the MCA Notification, dated 22nd January, 2019, all companies, who get supplies of goods or services from Micro and Small Enterprises and whose payments to […]
This article is regarding to ‘Micro and Small Enterprise Suppliers’ notified as MCA notification on date 22nd January 2019 “Specified Companies (Furnishing of Information about payment to micro and small enterprise suppliers) Order, 2019” Act Reference e-Form MSME FORM I is required to be filed pursuant to Order dated 22 January, 2019 issued under Section 405 […]
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.
TReDS = A Gateway of Finance for MSMEs Seller With the daily changes in the laws taking place around us, a new concept of Trade Receivables Electronic Discounting System i.e. TReDS has been introduced with the MCA notification dated 02.11.2018 which mandates all the companies with turnover of more than Rs 500/- crore to register […]
1. Every Company who get supplies of goods or services from Micro or Small enterprise supplier and whose payments to such entities remain due for more than 45 days from the date of acceptance or the date of deemed acceptance of the goods or services shall submit a half yearly statement in Form- 1 MSME […]
MSME Form I is the half yearly return to be filled by every specified company with the Registrar of companies. This return contain detail of all the outstanding payments to the micro and small for the goods and services supplied by them. All the payments which is due from more than 45 days needs to be reported under this return.
The Micro, Small and Medium Enterprise Development (MSMED) Act, 2006 protecting the interest of MSME by giving them privilege to get the payment with in time. The Act is not only gives them a shelter for getting payment but also facilitate them to get many privileges in different areas.
1. Applicability of MSME Act: As per Section 7 of THE MICRO, SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT, 2006, following is the classification of Enterprise on the basis of Investment in Plant & Machinery / Equipment. INVESTMENT IN PLANT & MACHINERY/ EQUIPMENT Manufacturers Service Provider MICRO Doesn’t Exceeds Rs 25 Lakhs Doesn’t Exceeds Rs 10 […]
