State-specific compliance
MSME Form-1 — Half-Yearly Return of Outstanding MSME Dues in Maharashtra
How MSME Form-1 — Half-Yearly Return of Outstanding MSME Dues applies to a business operating in Maharashtra, with state-specific authority, citations and current deadlines.
Definition
MSME Form-1 — Half-Yearly Return of Outstanding MSME Dues as it applies to businesses operating in Maharashtra. 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 a central regulation that applies uniformly across India, including Maharashtra. In Maharashtra, the day-to-day administering authority and the office where filings are submitted will be Ministry of Corporate Affairs (MCA).
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
Does MSME Form-1 — Half-Yearly Return of Outstanding MSME Dues apply to your business in Maharashtra?
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