Endorsed RE: [CSMysore] Re: MCA UPDATE _ BENEFICIAL FOR MSME UNITS
Chandravijay Shah & Co.
Your interpretation is hereby endorsed.
From: csmy...@googlegroups.com [mailto:csmy...@googlegroups.com] On Behalf Of PR
Sent: 24 January 2019 12:42
To: CSMysore
Subject: [CSMysore] Re: MCA UPDATE _ BENEFICIAL FOR MSME UNITS
Hi,
As per the notification, a specified company is defined as
"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)."
Does this mean that only those companies who haven't paid their MSME suppliers even after 45 days need to file MSME Form I? And that companies receiving goods and/ or services but have paid within 45 days need not file this return?
Thanks,
Parithosh
On Thursday, 24 January 2019 12:20:15 UTC+5:30, Deepak Singhal wrote:
Hi,
MCA vides its notification dated 22.01.2019 issued an Order may be called the Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019 through which reporting was required to be made by Specified Companies before the ROC in MSME FORM 1
Specified Companies
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)
Reporting
Every specified Company shall submit a half yearly return to the Ministry of Corporate Affairs in MSME Form I stating the following:
(a) the amount of payment due; and
(b) the reasons of the delay;
From April - September = 31st October
From October - March = 30th April
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Thanks & Regards
CS Deepak Singhal
Deepak Singhal & Associates
(Company Secretaries)
Office No.310, H block, Sushant Arcade, Sushant Lok Phase – 1,
Gurugram – 122 002 (Haryana)
Landmark: Near at HUDA City Metro Station
Contact Details: 9992693555
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