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    MSME 45 days- Guidance for Date

    Posted By : damini / Published on : 21-May-2020 07:48 AM / View : 582 / Comment : 1

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    Dear All



    In MSME FORM for considering 45 days

    Can we consider the date of posting in SAP or it should be from the date of Invoice?

    Because law says Date of acceptance,

    I think we can consider date of posting instead of date of invoice.
    Read more on : date guidance days msme

    • 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 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; 

      2. 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. 

      3. 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. 

      17-09-2022 / 06:58:46 AM
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