What are Specified Companies in MSME Form 1.

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.

For further details of FORM MSME please click here (FORM MSME 1).

With Regards

CS Nitin Bansal

N Bansal & Associates.

Phone No. 9780979767

E-mail - n9780979767@gmail.com

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

efiling of TDS Returns

Aadhaar Integration for availing various MCA related services

MCA:


The Ministry of Corporate Affairs is actively considering Aadhaar Integration for availing various MCA21 related services. As a preparatory step, all individual stakeholders viz. DIN holders/ Directors/ Key Managerial Personnel/ Professionals of the Institute of Company Secretaries of India, Institute of Chartered Accountants of India and Institute of Cost Accountants of India (whether in employment or in practice) are requested to obtain Aadhaar as early as possible for integrating their details with MCA21. Also ensure that the information in Aadhaar is in harmony with PAN. When implemented, all MCA21 services shall be available based on Aadhaar based authentication only. The date of Aadhaar integration with MCA21 would be announced shortly. Stakeholders are requested to plan accordingly on priority so as to avoid future inconvenience.

Intimation to ROC by Auditor (new provisions)

Intimation to R.O.C. - 

By Company  (as per new act)	By Auditor
with in 15 days of A.G.M.	2 views as (no date mentioned in new act and form 23B still on mca21) 1.     23B is now only for those who had not filled in last year  (more preferable) or 2.    Auditor still has to fill it within 30 days
form - ADT 1 + GNL 2	form - 23B

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Certificate under rule 54 of p-vat rule 2005
Certifies that in case of goods covered under this invoice :

	Importer/ Manufacture	First Stage Taxable Person	Second Stage Taxable Person
Name of taxable person
TIN
Commodity
Weight in M.T.
Invoice No
Tax liability (approx)

(To be printed on the back side of the invoice)

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Certificate and Consent for Appointment as Statutory Auditor u/s 139

M/s ABC & Associate

Place ________

To                                                                                                     Date: __________

Mr.XYZ

XYZ CO.

———————-,

————————.

Sir,

Sub – Certificate and Consent for Appointment as Statutory Auditor u/s 139

I/We ______________ certifies you as per the Second proviso to section 139 of Companies Act 2013 that-

Ø  I am/ We are eligible for appointment and not disqualified for appointment under the Companies Act 2013, and the Chartered Accountants Act 1949 and the rules & Regulations made thereunder.

Ø  The proposed appointment is as per the term provided under the Companies Act 2013.

Ø  The proposed appointment is within the limits laid down by or under the authority of the Companies Act 2013.

Ø  There are no proceedings against the auditor or audit firm or any partner of the audit firm pending with respect to professional matters of conduct.

Thank You

With Regards

For M/s ABC & Associate

Name ___________

Chartered Accountant

NOTE - Intimate to R.O.C. within 15 Days of

 appointment ( earlier it was 30 days).

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