If your company has yet to pay for the goods and services taken from MSMEs (Micro Small and Medium Enterprise) and it has been 45 days since you accepted the goods/services from them, then you need to file a half-yearly return through the MCA form MSME-1. It shall detail the following:
To put it in simpler terms:-
Every company which has received services or goods from MSMEs and payment for those services haven’t been made 45 days after receiving them has to file MCA form MSME-1.
Now that this form is mandatory, you don’t need to get panicky on how to file this Form. Contact Registrationwala and our team of experts shall assist you in filing form MSME-1.
Note - The applicability of form MSME-1 is for all types of business entities registered with the MCA including Oner Person Company, Private Limited Company, Public Limited Company, and others. If you are one of those companies that have yet to pay for the goods and services, you should contact our experts.