MSME Form-1 — Half-Yearly Return of Outstanding MSME Dues

Definition

Specified companies whose outstanding payments to MSME suppliers exceed 45 days must file MSME Form-1 every half year disclosing amount outstanding and reasons for delay.

• SourceMCA Order dated 22 January 2019; Specified Companies (Furnishing Information about Payment to Micro & Small Enterprise Suppliers) Order, 2019 — Para 2mca.gov.in

What it means in practice

MSME Form-1 — Half-Yearly Return of Outstanding MSME Dues is administered by Ministry of Corporate Affairs (MCA). The obligation is grounded in MCA Order dated 22 January 2019; Specified Companies (Furnishing Information about Payment to Micro & Small Enterprise Suppliers) Order, 2019 (Para 2).

Periods: Apr-Sep due by 31 Oct; Oct-Mar due by 30 Apr. Combine with Sec 43B(h) disallowance for income-tax.

• SourceMCA Order dated 22 January 2019; Specified Companies (Furnishing Information about Payment to Micro & Small Enterprise Suppliers) Order, 2019 — Para 2mca.gov.in

Triggers (applicability predicates)

These predicates are evaluated by Compliance Radar's applicability engine against a business profile to decide whether this rule applies.

• ownership IN ['pvt_ltd','ltd']
• outstanding_to_msme_above_45_days=true

Deadlines and penalty

Cadence: half_yearly

Penalty for default: Penalty up to Rs 25,000 + Rs 1,000/day continuing default under Sec 405(4) of Companies Act.

Citations

• SourceMCA Order dated 22 January 2019; Specified Companies (Furnishing Information about Payment to Micro & Small Enterprise Suppliers) Order, 2019 — Para 2mca.gov.in