Furnishing of information about payment to MSME 2019

MANDATORY

reporting of

Specified Companies-

MSME-1

MCA on 22nd January, 2019 has published “Specified Companies (Furnishing of information about payment to Micro and Small enterprise Suppliers) Order, 2019. They shall come into effect from 22nd January, 2019.

Extract of Act:

2. Every specified company shall file in MSME Form I details of all outstanding dues to Micro or small enterprises suppliers existing on the date of notification of this order within 30 days from the date of publication of this notification.

3. Every specified company shall file a return as per MSME Form I annexed to this Order, half Year as per details given below:

1. Period April to September 31st October
2. Period October to March 30th April

I Which Companies falls under MSME

The limit for investment in plant and machinery / equipment for manufacturing / service enterprises, as notified, vide S.O. 1642(E) dtd.29-09-2006 are as under

• Manufacturing Sector

Enterprises Investment in plant & machinery

Micro Enterprises Does not exceed Rs. 25,00,000/- (Twenty Five Lakh)
Small Enterprises More than Twenty Five Lakh (25,00,000) rupees but does not exceed Five Crore Rupees (50,000,000)
Medium Enterprises More than Five Crore (50,000,000) rupees but does not exceed Ten Crore (100,000,000) rupees

• Service Sector

Enterprises Investment in equipments

Micro Enterprises Does not exceed Ten Lakh rupees (Rs. 1,000,000):
Small Enterprises More than Ten Lakh rupees(Rs. 1,000,000) but does not exceed Two Crore (20,000,000) rupees
Medium Enterprises More than Two Crore (20,000,000) rupees but does not exceed five core rupees (50,000,000)


II Which are Specified Companies:- 

Every Company “PUBLIC OR PRIVATE” if falls in below mentioned condition:

• Received Goods &/ or Services 'from'
• Payment Due/ Not Paid till 46 days
• Micro or Small Enterprises 'of which'

III Which type of entities cover under Micro and Small entities?-

Micro and small Includes:

 Proprietorship, Hindu Undivided Family,

 Association of Persons, Co-Operative Society,

 Partnership Firm, Company or

 Undertaking

IV Which form Specified Company required to file with ROC:-

Specified Companies are required to file returns with ROC in e-form MSME-1:

Two Type of Returns required filing by “Specified Companies” like:

 One Time Return

 Half Yearly Return

V. What is due date of filing of “One Time Return”?

One time return required to file within 30 days of publication of these rules i.e.

20th February, 2019 (22nd January, 2019 + 29 days)



Note:-
On Date 21st February, 2019 MCA has issued notification regarding Extention of last date of filing of

MSME Form I http://www.mca.gov.in/Ministry/pdf/InitialReturnInMSMEForm_21022019.pdf