MSME FORM 1

Reporting Requirement

Every specified Company shall submit a half yearly return to the Ministry of Corporate Affairs in MSME Form I stating the following:

(a) the amount of payment due; and

(b) the reasons of the delay;

From April - September >> till 31st October

From October - March >> till 30th April

Reporting Requirement in present scenario.

1>> As per the notification companies have to report all outstanding dues to MSME units in FORM MSEM 1 as on 22^nd Jan 2019, up to 30/05/2019.

2>> Also, have to file half yearly return as on 30/03/2019, up to 30/05/2019.

How to determine the status of supplier whether MSME or not?

Since, the criteria of Micro, Small and Medium concern is based on investment, the only way out to determine is to get a written declaration from the suppliers about their status.

Following is the reference chart from where one can determine MSME status as per the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006

Manufacturing Sector

Enterprises Investment in plant & machinery

Micro Enterprises	Up to 25 Lakhs
Small Enterprises	More than 25 Lakhs & up to 5 Crores
Medium Enterprises	More than 5 Crore & up to 10 crore Rs.

Service Sector

Enterprises Investment in equipments

Micro Enterprises	Up to 10 Lakhs
Small Enterprises	More than 10 Lakhs & up to 2 Crores
Medium Enterprises	More than 2 Crore & up to 5 crore Rs.

Disclaimer: The information contained in this write up is to provide general guidance to the intended user. These are just my viewpoint, you are advised to study further and have 2nd opinion too.
Further, for any clarification and for your valuable suggestions please contact under mentioned e-mail id. 

With Regards

CS Nitin Bansal

N Bansal & Associates.

Phone No. 9780979767

E-mail - n9780979767@gmail.com

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[1] What are Specified Companies.

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.

[2] Notification date - 22^ND January, 2019