MSME -1

[Akhil Goyal]

Dear all,

I need clarification on MSME-1 reporting. If there is no outstanding balance for an MSME supplier as on reporting date, do we still need to include details of payments made to that party?

Additionally, in the payment details, does the "Number" column represents number of bills or number of payment transactions?

[Advocate Rashi Gupta]

Good afternoon akhil.

Regarding your query, i want to state that-

1. Firstly we have to check the data for the relevant period 01/10/2025 to 31/03/206.

2. If, at the end of relevant period, there is no outstanding balance for an MSME Supplier, you have to check whether the payments to the supplier were cleared within 45 days or not. If they were paid within 45 days, there is no requirement to report this in Msme, but if payment was made after 45 days, it must be reported.

3. Regarding the number column, in my opinion, it is no. Of invoices. But I am not sure about this.

Thank you.

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[Akhil Goyal]

Good Afternoon,

Then What is relevance of column (d) Paid within 45 days if it is not required to be reported.

[Manish Muthreja]

Hi Akhil,

The relevance of Column d is because if you any party who has multiple invoices and if any one or more of the invoices have a default of 45 days then all its invoices will be reported and those other invoices will be reported in the remaining columns i.e. Paid within 45 days, Paid after 45 days and outstanding for more than 45 days.

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CS Manish Muthreja

Contact No: +91 9650433304

[Anant Gera]

what about outstanding on 31st March-26  but paid on 15th Apr. 26 within 45 days MSME-1 form is required are not 

CA Anant Kumar Gera
M.com FCA,DISA
9811126084
anant...@yahoo.com
anant...@gmail.com

Disclaimer:This mail should not be treated as professional advise and bears no responsibility of outcomes if it is not supported by professional agreement in writing duly signed by the sender. Views expressed herein are personal views and are not professional advice of any kind

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[Arun Kumar Maitra]

No, you do not need to include details of payments made to an MSME supplier if there is no outstanding balance at the end of the reporting period AND all payments were made within the 45-day limit. 

However, if even a single invoice to an MSME vendor was paid after 45 days (i.e., delayed) during the half-year, that specific transaction must be reported, even if the balance is zero at the reporting date (March 31/Sept 30).

CA CS Arun Kumar Maitra

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[Advocate Rashi Gupta]

Hi akhil, as correctly explained, suppose there are two parties-

Party A has multiple invoices. If you have made all payments within 45 days, or if it is outstanding for a period less than or up to 45 days, then you do not have to report anything in this case.

Then there is Party B who has multiple invoices. So, if you have made timely payments for all invoices or payment is outstanding for a period less than/ up to 45 days, but if there is even a single invoice, where payment was made after 45 days, or payment was outstanding for more than 45 days, then you have to report all the invoices of this Party B, irrespective of the time of payment. That is the purpose of the column. You still don't need to report Party A, because there is no default pertaining to that party

Thank you.

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[Akhil Goyal]

Thanks To all Members For Clarified this Point.
Adv. Akhil Goyal