MSME Companies have to file FORM MSME Form-1 if they have outstanding payment for more than 45 days from the date of supply of materials.

[R V Seckar]

MSME Companies have to file FORM MSME Form-1 if they have outstanding payment for more than 45 days from the date of supply of materials.

Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Amendment Order, 2024 (July 15, 2024)
In exercise of the powers conferred by section 405 of the Companies Act, 2013 the Central Government issued Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2024.

As per the order the following amendments are made in the Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019 In paragraph 3, the following proviso shall be inserted, namely:- “Provided that only those specified companies which are having payments pending to any micro or small enterprises for more than 45 days from the date of acceptance or the date of deemed acceptance of the goods or services under section 9 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006) shall furnish the information in MSME Form-1.
” New MSME Form-1 form shall be substituted.

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CS R.V.Seckar

Practicing Company Secretary 

Registered Independent Director 

 CP NO:  20565

JIO- 79047 19295

Pl do visit my blogs :

http://www.rvseckarcompanylaw.blogspot.com/

http://rvseckarfema.blogspot.com/

[Jai Gehani]

Best Regards

ACS Jai Gehani

Company Secretary in Practice

+91 70149 99180

Address: F-7, Kasturi Plaza, Bombay Motor Circle,

Jodhpur, Rajasthan-342003 

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[deepali balpande]

Sir,

In the first line you write msme companies need to file form and then you write companies having outstanding dues for more than 45 days to small. And micro enterprises need to file meme 1 form … not talking  about medium enterprises… do you means to say not msme vendor but micro or small enterprises… do they have separate registration certificates… please clarify 

Regards,

Deepali 

[R V Seckar]

On July 15th, 2024, the Ministry of Corporate Affairs issued a significant amendment to the Specified Companies Order under the Companies Act 2013 vide Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Amendment Order, 2024. 

This amendment aims to strengthen the reporting framework concerning payments to micro and small enterprise (MSE) suppliers. The amendment, enacted under Section 405 of the Companies Act 2013, introduces a pivotal change impacting specified companies. 

According to the revised order, companies must now report details regarding payments pending to MSEs. Specifically, companies are required to furnish information if payments to MSEs remain outstanding for more than 45 days from the date of acceptance or deemed acceptance of goods or services

To view this discussion on the web visit https://groups.google.com/d/msgid/csmysore/CAFMFj37CgQ-HXDp4wjZrzCE9KyyTBmc3Qg3vDtKM1m-Dp25xog%40mail.gmail.com.

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CS R.V.Seckar

Practicing Company Secretary 

Registered Independent Director 

 CP NO:  20565

JIO- 79047 19295

http://rvseckarpracticingcompanysecretary.com