Manoj Aggarwal

MSME Form 1 :

Every Company, who get supplies of goods 
or services from Micro and Small Enterprises and whose payments to Micro and Small Enterprises Suppliers exceeds 45 days from the Date of Acceptance or the Date of Deemed Acceptance of the goods or services.  (hereafter referred to as ‘Specified Company’).

Specified Companies as referred above, shall have to File a MSME Form I” which includes Details of all outstanding dues to such Enterprises Suppliers (hereafter referred to as “Specified Dues”) existing on the Date of Notification of this Order within 30 days from the Date of Publication of this Notification as below;

Details as on Notification

Due Date

January 22, 2019

February 21, 2019

In addition to the above, Every Specified Company is required to file a return as per MSME Form I, on half yearly basis as below;

Details for the Period

Due Date

From April to September of Previous Year

October 31 of the said previous year

From October to March of Previous Year

Immediately Next April 30 of the said previous year

Impact of Non Compliance

Further, if the Company fails to comply with the above, provisions of Sub Section (4) of Section 405 (Power of Central Government to direct companies to furnish information or statistics) shall apply.

Section 405 (4): If any company fails to comply with an order made under sub-section (1) or subsection (3), or knowingly furnishes any information or statistics which is incorrect or incomplete in any material respect, the company shall be punishable with fine which may extend to twenty-five thousand rupees and every officer of the company who is in default, shall be punishable with imprisonment for a term which may extend to six months or with fine which shall not be less than twenty-five thousand rupees but which may extend to three lakh rupees, or with both.

DPT 3 :

Every company shall file a onetime return of outstanding receipt of money or loan by a company but not considered as deposits, ( including loans from  directors, relatives, companies and also advances received from anyone but outstanding for more than 1 year) in Form DPT-3 within ninety days 22nd January, 2019 along with fee as provided in the Companies (Registration Offices and Fees) Rules, 2014.

Sample will ( attached)

sample business Valuation
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