[3:50 PM, 2/18/2019] Gupta Jee C A: “MSME FORM I”

Mandatory filling of MSME Form I announced vide Companies (Furnishing of information about payment
to MSME suppliers) Order, 2019 dated January 22nd, 2019.

As per these rules, Every specified companies are required to file MSME Form I with Roc in below
mentioned different situations.

Two Type of Returns required filing by “Specified Companies” like:

• One Time Return

• Half Yearly Return

Ø Every specified 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 (“i.e., 22nd January, 2019”).

Ø Every specified company 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.

Specified Company means Every Company “Public or Private” who Received Goods or Services 'from'
Micro or Small Enterprises 'of which' Payment Due or Not Paid till 45 days .

HALF-YEARLY RETURN BY MICRO OR SMALL ENTERPRISES WITH REGISTRAR OF OUTSTANDING

PAYMENTS

All companies having outstanding

payments to MSME for more than 45 days from the date of acceptance or deemed acceptance of goods
or/and services,
Who are not required to file the MSME Form I.

The Companies who have no outstanding payments to MSME or such outstanding payments are fornot
more than 45 days are not required to file this form.

DUE DATES FOR FILLING “MSMSE FORM 1”

Every Company within 30 daysfrom the date of the notification i.e 22nd February, 2019 (22nd January,
2019 + 30 days) is required to file this form as Initial Return.

Every company within 30 daysfrom the last day of half yearshall file regular half yearly return. That is,

Ø October 31st for the period1st April to 30th September, and

Ø April 30th for the period01st October to 31st March

DETAILS AND DOCUMENTS TO BE ENCLOSED WITH THE FORM

INITIAL RETURN:

Total outstanding amount,

Details of suppliers and payments due (PAN of Suppliers)

REGULAR HALF YEARLY RETURN

Total outstanding due for the period and particulars of suppliers therein for the periods,
Reasons for delay in payment

NOTE: Non-compliance of such provisions will lead to punishment and penalty under the provision of
the Act.

Penalty Provision as per Section 405 (4) of the Companies Act, 2013, if the said details are not submitted
to MCA on or before 20/02/2019 or the information submitted is incorrect or incomplete.

Fine

Company – upto Rs. 25,000

Directors, CFO and CS

Imprisonment – up to 6 Months or

Fine – not less than Rs. 25,000 upto Rs. 3,00,000 per person

Definition of MSME:-

The Micro Small & Medium Enterprises (MSMEs) are defined in India under the MSME Act 2006 on the
basis of capital investment made in plant and machinery, excluding investments in land and building.

Manufacturing units having investment below Rs 25 lakh were termed Micro, those between Rs 25 lakh
and Rs 5 crore termed as Small and from Rs 5 crore to Rs 10 crore as Medium. Similarly, for Service
units, corresponding investment thresholds were upto Rs 10 lakh Micro, between Rs 10 lakh to Rs 2
crore Small and between Rs 2 crore to Rs 5 crore Medium.

[5:08 PM, 2/18/2019] Gupta Jee C A:

http://www.mca.gov.in/Ministry/pdf/AcceptanceDepositsAmendmentRule_22012019.pdf