Companies Act

MCA Notifies MSME Form I for furnishing details of outstanding dues to SMEs

MCA Notified MSME Form I half yearly return for furnishing information of outstanding dues to Micro or small enterprises suppliers.

Ministry of Corporate Affairs (MCA) had issued notification number S.O. 5622(E), dated the 2nd November, 2018 directing that 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 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;

Now, the MCA, in pursunace to the said notification has notified the Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019 .

The Order provides that every specified company shall online file details of all outstanding dues to Micro or small enterprises suppliers existing on the date of notification of this order within thirty days in MSME Form I

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

As per the MSME Form I, the specified companies are required to inter alia state the particulars of the name of suppliers and amount of payments due.

The date from which the amount is due and the reasons for the delay in amount of payments due  is also to be stated.

Download MCA Notification No. S.O. 368(E) dated 22nd January, 2019  Click Here >>

Share

Recent Posts

  • RBI

RBI specifies ‘Related Party’ with respect to banks

RBI specifies ‘Related Party’ with respect to bank RBI has issued RBI Credit Risk Management Directions, 2025 defining ‘Related Party’…

3 days ago
  • GST

Advisory on Filing Opt-In Declaration for Specified Premises, 2025

Advisory on Filing Opt-In Declaration for Specified Premises, 2025 Dear Taxpayers, The relevant declarations issued vide Notification No. 05/2025 –…

5 days ago
  • GST

FAQs for HSNS Cess Act, 2025 and HSNS Cess Rules, 2026

FAQs for HSNS Cess Act, 2025 and HSNS Cess Rules, 2026 Q1. Who is required to get registered under the…

6 days ago
  • Income Tax

Refusing to condone delay can result in a meritorious matter thrown out at threshold

Refusing to condone delay can result in a meritorious matter thrown out at very threshold against case being decided on…

1 week ago
  • Income Tax

Prior period income cannot be considered as income of the current year

When prior period expenses are not admissible as deduction, following the same principle the prior period income also cannot be…

1 week ago
  • Income Tax

SC condoned delay of 972 days in filing appeal due to restructuring in Department

Supreme Court condoned delay of 972 days in filing appeal due to restructuring in Income Tax Department In a recent…

1 week ago