MCA Revises MSME Form-1 With Enhanced Disclosures for Reporting Payments Pending Over 45 Days to Micro/Small Enterprises
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- By Chetan Kulasri
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- Last Updated on 17 July, 2024
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Notification No. S.O. 2751(E), Dated: 15.07.2024
MCA has notified Specified Companies (Furnishing information about payment to micro and small enterprise suppliers) Amendment Order, 2024. A new proviso has been added. It states that only those specified companies with payments pending to any micro or small enterprises for more than 45 days from the date of acceptance/date of deemed acceptance of goods or services u/s 9 of MSME Development Act, 2006 must furnish information in MSME Form-1. Subsequently, MSME Form-1 has been substituted.
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