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MSME Form I
MCA wide order dated 22nd January, 2019 directed 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 (27 of 2006) (hereafter referred to as “Specified Companies”), 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;
ComplianceIndia can help you understand how to register and maintain filing of MSME Form I quickly and hassle-free
Applicability on Companies
per a notification issued by the MCA it has been mandated to file disclosures through e-Form MSME-I for every type of the Company – Public or Private Company, Micro or Small Companies; the Company that satisfies the following two conditions:
– Condition 1: Company must have received Goods and/or Services from Micro or Small Enterprise.
– Condition 2: Payment must have been due/not paid, to such Micro and Small Enterprise for more than 45 days from the date of acceptance.
The due date for filing Form MSME are:
|S. No||Half-Year Period of Non-Remittance||Due Date of Filing Returns|
How we Work?
Documents/Details Required for filing MSME FORM I
Name of supplier
PAN of supplier
Amount due against the supplies of goods or services
Date from which the amount is due
Reason of delay in payment of the amount due
Our charges for MSME filing starts from Rs. 1,499/-.
Frequently Asked Questions
1. What is MSME Form I?
The MSME Form I is filed for furnishing the details with the ROC in respect to the payment outstanding for more than 45 days towards the services availed from the said MSME.
The Form is being filed in the intervals as mentioned below:
– Initial Return; or
– Regular Half Yearly Returns
2. Which Companies are required to file the MSME Form I?
All the Companies i.e. public, private, listed or unlisted etc., who get supplies of goods or services from micro and small enterprises i.e. MSME’s and whose payments to such MSME’s are overdue for more than forty-five days from the date of acceptance or the date of deemed acceptance of the goods or service.
3. What is the date of acceptance of goods and service?
The date of acceptance means the date of actual delivery of goods or rendering of services. Further, where any objection is made in writing by the buyer regarding acceptance of goods or services within 15 (fifteen) days from the day of delivery of goods or the rendering of services, then the day on which such objection is removed by the supplier shall be the date of acceptance of goods and services.
4. What is the deemed date of acceptance of goods and service?
The deemed date of acceptance means, where no objection is made in writing by the buyer regarding acceptance of goods or services within 15 (fifteen) days from the day of the delivery of goods or the rendering of services.
5. What is the initial return of MSME Form I?
Initial filing of MSME Form I within 30 days from the date of its deployment or later is called the initial return of MSME Form I. The date of the deployment of the form is May 01, 2019.
6. What is the regular half yearly return of MSME Form I?
Regular filing of MSME Form I on half year basis i.e. April to September or October to March is called the half yearly return of MSME Form I.
7. Whether MSME Form I can be filed with ‘Zero’ outstanding amount?
No, MSME Form I cannot be filed with zero or NIL outstanding amount.
8. Who can digitally sign the MSME Form I?
Any of Director, Manager, Secretary, CEO or CFO of the Company whose signature is registered on the MCA Portal may digitally sign the MSME Form I.
9. What is the statutory fee or additional fee (late fee) for the filing of MSME Form I?
There is no fees imposed for filing MSME Form I.
10. What details need to be furnished by companies in Form MSME-1?
Companies must furnish the following details to their concerning ROC via Form MSME-1:
– The amount of payment due
– The reasons for the delay
– Supplier Name
– PAN of supplier
– Date from which amount is due