
Form MSME 1
Applicability:
Form MSME-1 is required to be filed by Companies dealing with Micro and Small Enterprises; and whose payment period has exceeded 45 days from the date of acceptance or deemed acceptance of goods or services.
Due Date of Filing:
30th April - for the period October to March.
31st October – for the period April to September
Penalty:If any company fails to file MSME-1, the company and every officer in default will be liable to a penalty of Rs.20,000. In case of continuing failure, the company and every officer in default will be liable for a further penalty of Rs.1,000 for each day the failure continues, subject to a maximum of Rs.3 lakh.
Name, address and e-mail of the company filing
Name and PAN of the suppliers (MSME)
Outstanding amount due against the supply of goods or services
Date from which the amount is due
Reason for delay in payment of the amount due