Half Yearly MSME Payment Delay Return

Ministry of Micro , Small and Medium Enterprises given notification for Filing of Half Yearly MSME Payment Delay Return. Companies need to file return about payment due /outstanding to micro and small for the goods and services supplied by them. First Due Date for filing MSME Half yearly Annual Return is 21^st Feb 2019. Penalty for non filing is upto Rs.25000/- to company and Rs. 25000 to Rs.300000 to Every officer who is in default. In this article we discussion about MSME half yearly return due date and penalty for non filing. On 2^nd November 2018 Ministry of Micro , Small and Medium Enterprises issued notification under section 9 of Act. For filing half yearly return for payment dues of more than 45 days to MSME.

How to File Half Yearly MSME Payment Delay Return return for dues pending to MSMS ?

Detail information need to be submitted for Filing Half yearly MSME return. It have details of financial year, Name of suppliers , PAN number of supplier , Amount Due etc. Company also need to give reason about delay in payment.

Financial Year/Particulars	Name of suppliers	PAN of suppliers	Amount Due	Specify the date from which amount is due

What is MSMS Industry Companies ?

Enterprises engaged in the manufacture or production, processing or preservation of goods as specified below:

Nature of activity of the Enterprise	Investment in plant and machinery excluding land and building for enterprises engaged in manufacturing or production, processing or preservation of goods	Investment in equipment excluding land and building for enterprises engaged in providing or rendering of services (loans up to Rs 1 crore)
Micro	Not exceeding Rs.25.00 Lakhs	Not exceeding Rs.10.00 Lakhs
Small	More than Rs.25.00 lakhs but does not exceed Rs.500.00 lakhs	More than Rs.10.00 lakhs but does not exceed Rs.200.00 lakhs
Medium	More than Rs.500.00 lakhs but does not exceed Rs.1000.00 lakhs	More than Rs.200.00 lakhs but does not exceed Rs.500.00 lakhs

Who need to file Half Yearly MSME Payment Delay Return ?

All the Companies who are registered in Indian and who takes goods or services from the MSME industry. Also payment to such suppliers of goods or services exceed 45 days from the date of acceptance or date of deemed acceptance.

Below are two basic conditions

Companies who take supplies from MSMS and
Payment to supplies exceeds 45 Days

45 Days outstanding Calculation Method

Its important to understand about 45 days outstanding calculation method. Doing right calculation of 45 days ensure that MSME Form 01 return filing is correct. Section 2(b) of Mirco , Small and Medium Enterprise Development Act 2006 give guile line about day of demand of acceptance.

THE DAY OF ACCEPTANCE means, –

The day of the actual delivery of goods or the rendering of services; or
Where any objection is made in writing by the buyer regarding acceptance of goods or services within fifteen days from the day of the delivery of goods or the rendering of services, the day on which such objection is removed by the supplier;

THE DAY OF DEEMED ACCEPTANCE means

where no objection is made in writing by the buyer regarding acceptance of goods or services within fifteen days from the day of the delivery of goods or the rendering of services, the day of the actual delivery of goods or the rendering of services;

How to File Half Yearly MSME Payment Delay Return return for dues pending to MSMS ?

All Companies who are supposed to file this MSME 45 days return shall submit this half yearly return at site of Ministry of Corporate Affairs. MCA sprovide utility/forms for filing such half yearly return. This return has be filed online using forms/utility provided.

Due date for filing Half Yearly MSME return for dues pending to MSMS ?

Due date for filing half yearly return is not yet provided. MCA shall soon provide due dates.

There are there due date for MSEM Half yearly return. Following is details about due date for Filing MSEM Return.

Company Filing First time – 21^st February 2019
April to September – 31^st October
October to March – 30^tH April

Read Form INC 22A Active Company Tagging Identities And Verification

What is Penalties for non filing of Form MSME-01 ?

Penalties For Non Filing For MSME 01 is given in Section 405(4) of Companies Act 2013. Where company fails to furnish detail of MSME half yearly return below penalties shall be applicable. Its also important to note that giving incorrect or incomplete information penalty applicable.