How to File MSME Form 1?

We guarantee to provide you 100% assistance in filing MSME return by maintaing the transparency. Also, we are action-oriented, thus, we will invest our sustain efforts in assisting you in how to file MSME form 1 immediately. 

For finest expert assistance, contact us to file the MSME return form.

What is MSME Form-1/MSME Return (MCA)?

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, 

  • Reason for delay in payment
  • Amount of due payments

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.

What is the purpose of filing MSME Form-1?

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. 

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What are Micro, Small, and Medium Enterprises?

Manufacturing Sector 
Service Sector 
Type of enterprise
Investment in plant and machinery
Type of enterprise
Investment in equipment
Micro
 > Rs 24 lakh
Micro
> Rs 10 lakh
Small
 < Rs 25 lakh but below Rs 5 crore
Small
< Rs 10 lakh, however, below Rs 2 crore
Medium
 < Rs 5 crore but less than Rs 10 crore
Medium
< Rs 2 crore, but below Rs 5 crore

Eligibility to File MSME Return

Every company is receiving goods and services from the MSME.

Every MSME supplying goods and services to other companies must file the return with the Registrar of Companies (ROC).

What is the Due Date of Filing MEME Return?

Filing period 
Due date
From April to September
31st October
From October to March
30 April

Type of MSME Return

1. Initial Return

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. 

2. Half-yearly Return

Each company must file a half-yearly return on or before the mentioned date revealing the outstanding amount towards MSMEs. 

Documents Required For Filing MSME Return

Documents Required For Initial Return,

  • Supplier’s PAN
  • Sum of the amount due
  • Supplier’s name
  • Reasons for payment delay
  • Amount due date
  • Financial year from or financial year to
  • Date from which amount is due
  • Digital Signature Certificate (DSC)

 

Documents Required For Regular half-yearly return, 

  • Period of which file it belongs
  • Company’s PAN
  • Company’s E-mail address
  • Sum of due outstanding of a specific period
  • Information regarding supplier’s name and the sum of the amount due
  • Reasons for delay in payment
  • If any, include attachments

Accordingly, our team 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 consultant team 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.

How to File MSME Form 1? (Filing Process)

Download the MSME Form-1. Further, it would be selected whether an initial or half-yearly return will be filed. 

Further, the company’s CIN will be provided.

The next step is to enter the Global Location Number and the company’s PAN.

The applicant basic information such as the company’s name, registered office address, E-mail address, and other details will need to be added. 

Then, information regarding initial returns or amount due, such as details of the financial year, total outstanding amount, information about supplier’s PAN, particular date from which amount is outstanding, etc will be added.

Provide the details of half-yearly return, such as financial year, supplier’s name, outstanding amount, a particular date for which amount is outstanding, etc.

After entering the required information along with the documents, all the information will be automatically filed in regarding a company. In case of any inaccurate information, edit the same. 

Lastly, the due amount will be added and the application will be submitted.

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 return.. 

Our Role in Filing MSME Form-1

We will educate you regarding each aspect of how to file MSME form-1 filing.

We guarantees to assist you throughout the filing process. 

Our MSME Form-1 consultants assure to guide you in the documentation process to avoid inaccuracy. 

As mentioned, providing any inaccurate information or statistics can impose a penalty. Thus, our experts guarantee to file the form without any mistake. 

We have an experienced and professional team which assure to provide you a most satisfactory solution to your concerns.

Conclusion

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.

Have Questions? We've got answers.

What are Specified Companies?

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. 

What is the penalty of non-filing MSME Form-1?

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. 

What are the details you are required to provide in MEME Form-1?

A company must provide the below-mentioned details, 

  • Amount of due payment
  • Date from which amount is due
  • Reasons for delay
  • Name of supplier
  • Supplier’s PAN
Who must sign the MSME Form-1?

Director, a CEO, or the company secretary must sign the MSME Form-1. 

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