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MSME Form 1 (MCA) is a form to provide half-yearly returns with the registrar regarding outstanding payment to Micro and Small Enterprises. Every specified company must file the MSME return to submit the half-yearly return to the Ministry of Corporate Affairs, including the below-mentioned information,
Though the MSME existed on the 22nd of January, 2019, i.e., the date of issuance of this notification must file the form within thirty days of the deployment on the MCA 21 portal.
The purpose of introducing the MSME-1 is to prevent losses, as companies who take goods and services won’t pay an amount after much delay. Thus, MSME return asks the companies to report the amount due for payment and the reason for the delay of the same after 40 days of receiving the goods and services.
Type of enterprise
Investment in plant and machinery
Type of enterprise
Investment in equipment
> Rs 24 lakh
> Rs 10 lakh
< Rs 25 lakh but below Rs 5 crore
< Rs 10 lakh, however, below Rs 2 crore
< Rs 5 crore but less than Rs 10 crore
< Rs 2 crore, but below Rs 5 crore
From April to September
From October to March
The companies must file this return within thirty days of issuance of the MCA order in form MSME Form-1 revealing the outstanding amount towards MSMEs.
Each company must file a half-yearly return on or before the mentioned date revealing the outstanding amount towards MSMEs.
Documents Required For Initial Return,
Documents Required For Regular half-yearly return,
Accordingly, our consultants guarantees to assist you in the process of documentation and will educate you regarding how to file MSME form 1 to avoid every possible inaccuracy. Thus, we will ensure a smooth process.
To file the MSME return form easily, our MSME return consultants will educate you concerning MSME return filing process without any hassle and challenge as we comprise the experience of 8+ years. Moreover, we guarantee to avoid any inaccuracy.
Filing MSME return could be tedious, especially if you are not aware of how to file MSME form 1, which could result in imposition of penalty on the applicant. That's why, JR Compliance - an award winning compliance provider assures to educate you regarding how to file MSE form 1 before commencing the filing process to make our client aware of each aspect of MSME-1 Form.
As mentioned, MSME return form filing is mandatory for the Specified Companies, which has been introduced to prevent MSME losses. However, non-filing for MSME Form-1 or providing inaccurate information or statistics could impose a fine or imprisonment, or both on the company and individual engage in the same.
Consequently, JR Compliance keeping the minor detail insight will direct you regarding how to file MSME form 1 to avoid inaccuracy, thus, preventing legal consequences. Furthermore, we have experience of 8+ years of serving world-famous brands such as Milton, Samsung, Sennheiser, etc.
Hence, for expert and professional services, contact us immediately.
It refers to the companies which receive supplies of goods and services from Micro and Small Enterprises, and whose payment to these enterprises exceeds the 45 days from the acceptance date and the date of deemed acceptance of goods or services according to the provisions of Section 9 of MSME Development Act, 2006.
Note - MSME Form-1 does not apply to Medium Enterprises.
Suppose within thirty days a company fails to file or intentionally issue inaccurate information or statistics in any aspect. In that case, the company is liable to pay the fine, extending up to Rs 25,000 to Rs 3,00,000. Moreover, every involved officer could also be imprisoned for the same, which could increase up to six months, or both.
A company must provide the below-mentioned details,
Director, a CEO, or the company secretary must sign the MSME Form-1.
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