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Recovery of dues by MSME’s through MSME Samadhan Scheme

Any MSME unit which has supplied goods or render any services to any Company or any other person (buyer of goods or recipient of Services ) and the buyer or recipent is delaying in payment or not making due payment as agreed , can make an application for recovery of dues by MSME under MSME Samadhan Scheme.

Where any Micro or small enterprises supplies any goods or render any services to any buyer, the buyer shall make payment therefor on or before the date agreed upon between him and the supplier. Period of payment between the supplier and the buyer in writing shall not exceed forty five days upon from the day of acceptance

Where the buyer fails to make payment to supplier within forty five days the buyer shall be liable to pay the amount with interest thereon.

Recovery of dues by MSME
MSME

Who can apply under for Recovery of dues by MSME:

Any Micro or small enterprises having valid Udyog Aadhar/Udhyam Registration (UAM) can make Application for recorvery of dues from Debtors.

How much Amount MSME unit can claim Recovery of dues by MSME under MSME Samadhan Scheme :

The buyer is liable to pay bill amount and compound interest with the monthly rests to the supplier. Interest is calculated on the amount at the three times of the bank rate notified by RBI.

Filing of Application under MSME Samadhan Scheme

MSME units are required to file Application under Msme Samadhan Portal online with all the supporting documents including Invoices, purchase orders etc.

Examination of Application by MSME department

MSME department will examine application filed by MSME unit and if application is complete in all respact than department will issue directions to the buyer unit for payment of due amount along with interest as per the provisions under the MSMED Act 2006.

Appeal by Appellant :

If the Appellant (not being the supplier) wants to file an appeal, no application for setting aside any decree or award by the state council shall be entertained by any court unless the appellant (not being supplier) has deposited with it, the 75% of the award amount.

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New criteria for classification of micro, small and medium enterprises (MSME)

Indian government has announced the relief of measures for economic revival due to COVID19 crisis happening. The government has is the definition of m s m e Enterprises to increase the limits of an investment in the business.

Earlier there was a different criteria for manufacturing as well as service units, now all these entities are treated as equally and criteria for both the manufacturing and service units are same.

this will cover more new service enterprises as well as manufacturing units with the higher turnover and investment into the micro small and medium enterprises definition and these Enterprises can now avail the various schemes provided to MSME by government of India

this criteria is applicable for all the entities suggest proprietorship firms,LLP, private limited companies and partnership firms

New criteria for classification of micro, small and medium enterprises (MSME):

msme


(i) a micro enterprise, where the investment in Plant and Machinery or Equipment does not
exceed one crore rupees and turnover does not exceed five crore rupees;
(ii) a small enterprise, where the investment in Plant and Machinery or Equipment does not exceed
ten crore rupees and turnover does not exceed fifty crore rupees;
(iii) a medium enterprise, where the investment in Plant and Machinery or Equipment does not
exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees.

The new criteria for MSME is effective from 1st June 2020.

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MSME Return to MCA/ROC

In the recent amendment the Ministry of Micro small and Medium enterprises prescribed Half Yearly Reporting to MCA by Companies 
which receives services or goods from micro or small enterprises and whose payments to micro and small enterprises suppliers exceed 45 days

Every company shall file in MSME Form I details of all outstanding dues to Micro or small enterprises suppliers existing on the date of notification of this order within thirty days from the date of publication of this notification – Means the Due date for First Return is 21st Feb, 2019

Everycompany shall file a return as per MSME Form I annexed to this Order, by 31st October for the period from April to September and by 30th April for the period from October to March.

Form Required to be Filed to MCA/ROC:-

MSME Form I

Information required to be Filed in MSME Form I:-

Initial return of outstanding dues to Micro or Small Enterprises Suppliers

Total outstanding amount due as on date of notification of this order

Particulars of the name of suppliers and amount of payments due :-

  • Financial Years/Particulars
  • Name of Suppliers
  • PAN of Suppliers
  • Amount Due
  • Specify the date from which amount is due

REGULAR RETURN OF OUTSTANDING DUES TO MICRO AND SMALL ENTERPIRSES

Total outstanding amount during April to September

Particulars of the name of suppliers and amount of payments due :-

  • Financial Years/Particulars
  • Name of Suppliers
  • PAN of Suppliers
  • Amount Due
  • Specify the date from which amount is due

Total outstanding amount during October to March

  • Financial Years/Particulars
  • Name of Suppliers
  • PAN of Suppliers
  • Amount Due
  • Specify the date from which amount is due

Reasons for Delay in amount of payments due

The Form is required to be Digitally Signed by Director/CEO/Manager/Company Secretary of the Company