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 22nd 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
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.
