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FILING OF MSME RETURN


LAW GOVERNING THE EFORM

eForm MSME FORM-I is required to be filed pursuant to Order dated 22 January, 2019 issued under Section 405 of the Companies Act, 2013 and and which are reproduced for your reference:
1. Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019, 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) (hereafter referred to as “Specified Companies”), shall submit a half yearly return to the Ministry of Corporate Affairs stating the following:
a. the amount of payment due and
b. the reasons of the delay;


TWO TYPES OF RETURN UNDER MSME



INITIAL RETURN


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


HALFYEARLY RETURN


Every specified company shall file a return as per MSME Form I annexed to this Order, by 31st October for the period from April to September and by 30th April for the period from October to March.



ATTACHMENTS


Optional Attachments if any

DETAILS TO BE FURNISHED IN MSME-1 :

  • Name of supplier
  • PAN of supplier
  • Amount Due Against The Supplies Of Goods Or Services
  • Date from which the amount is due
  • Reason of delay in payment of the amount due


PROCEDURE


1. Identify your MSME registered suppliers and ask for their registration certificate.
2. If there are any such suppliers who are Registered under MSME Act and if the payments to them are due for more than 45 days from the date of acceptance of the goods and services, then details of such suppliers shall be furnished in Form MSME-1.