Form MSME 1

If MSME entities are your vendors you need to pay them within 45 days. Else you need to file MSME 1 - Be compliant!

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Key aspects to know about MSME 1

Purpose of MSME 1

Purpose of MSME 1.

MSME 1 is a half yearly submission to be made by any company having outstanding payments to MSME for more than 45 days. If there is no such dues exceeding the terms, then form need not be submitted.

Purpose of MSME 1

Credit definition in MSMED Act. .

Sec 15 of the act states that dues of MSME vendor must be made on or before the agreed date. If no date is agreed then within 15 days of acceptance of goods or service. Further agreed terms cannot exceed 45 days.

Purpose of MSME 1

Due date of Filling MSME -1.

It is to be filled half yearly within one month of end of half year. Hence 31st Oct of Apr to Sep period and 30th April for Oct to Mar period.

Consequence of non filling of MSME 1.

The company and every officer in default will be liable to a penalty of Rs.20K and in case of continuing failure each will be liable to a penalty of Rs.1,000 per day subject to maximum of Rs.3 lakhs.

What details to be reported in MSME 1?


CIN and PAN of the company
Name, address and e-mail of the company
Name and PAN of the suppliers
Outstanding amount due against the supply of goods or services
Date from which the amount is due
Reason for delay in payment of the amount due

Who should file Form MSME -1?

Specified companies need to file when payment due to MSME exceeds 45 days from the date of acceptance of service or goods. The specified companies are -
That has obtained goods and services from MSME.
Payment exceeds 45 days.

What are the key information taken in MSME 1?

The form captures the amount of outstanding at the end of each half year plus any payments made beyond 45 days during the half year. It captures both the principal as well as any interest there off.

How should we know who is covered under MSME?

It is requirement of the payer to confirm with its vendor seeking information about the MSME status and also seek copy of the MSME certificate. To fulfill this requirement standard letters need to be sent out annually to all vendors who can be MSME.

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Filing of Form MSME 1 to Registrar of Companies

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Type of Entity
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Do your Company have MSME Vendors
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Do you have outstanding payment of MSME Vendors more than 45 Days
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If no , than there is no need to file the form, in case you need more support please type your query
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Please Choose From Below Packages
Do it Yourself We will do for you Register and Grow faster
FREE
999+GST
8,999+GST
Tutorial Videos to do it yourself Is Included Tutorial Videos to do it yourself Is Included Tutorial Videos to do it yourself Is Included
Entrepreneur Success Training Is excluded Entrepreneur Success Training Is Included Entrepreneur Success Training Is Included
Accounting and Invoicing Software	 Is excluded Accounting and Invoicing Software	 Is Included Accounting and Invoicing Software	 Is Included
Accounting, Invoicing and Compliance Training Is excluded Accounting, Invoicing and Compliance Training Is Included Accounting, Invoicing and Compliance Training Is Included
CRM, Website Builder Software Is excluded CRM, Website Builder Software Is Included CRM, Website Builder Software Is Included
Chatbot, Whatsapp, Email, Social Media Automation Software Is excluded Chatbot, Whatsapp, Email, Social Media Automation Software Is Included Chatbot, Whatsapp, Email, Social Media Automation Software Is Included
Professional Consultation Is excluded Professional Consultation Is Included Professional Consultation Is Included
Preparation of Forms Is excluded Preparation of Forms Is Included Preparation of Forms Is Included
Social Media Presence Is excluded Social Media Presence Is excluded Social Media Presence Is Included
Web Presence Is excluded Web Presence Is excluded Web Presence Is Included
Setting up your accounting process Is excluded Setting up your accounting process Is excluded Setting up your accounting process Is Included
Accept Online Payments Is excluded Accept Online Payments Is excluded Accept Online Payments Is Included

GST @18% : 0

Total : ₹0

all govt fee excluded

GST @18% : 180

Total : ₹1179

all govt fee excluded

GST @18% : 1620

Total : ₹10619

all govt fee excluded

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Frequently asked questions

MSME 1 is not listed in CFSS scheme. Filing of this form requires no fees

YES. As it is delayed payment hence need to be reported. Advise is take 45 days terms in agreement if possible and then pay in advance to that.

99 entries. If the number is more than 99, then multiple forms can be filled.

If the payment has already been made before the relevant period end, and outstanding are nil, then form submission is not required.

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