The Central Government vide notification number S. O. 5622 (E), dated 2nd November, 2018 has directed that all companies, who gets supplies from micro & small enterprise and whose payments to micro & small enterprise suppliers exceeds 45 days from the date of acceptance or the date of deemed acceptance of the goods & services, as per the provisions of section 9 of the Micro Small and Medium Enterprises Development Act, 2006 (27 of 2006) (hereafter referred to as “Specified Companies”), shall submit a half yearly return to the Ministry of Corporate Affairs stating the following:

(a) The amount of payment due; and
(b) The reasons of the delay;

• 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.
• Every “specified company” shall file a return as per MSME Form I by 31st October for the period from April to September and by 30th April for the period from October to March.
• “Specified company” means who gets supplies of goods or services for Micro and Small Enterprise and whose payment to Micro Small Enterprises suppliers exceed 45 days from the acceptance.
• In case of Industrial Enterprises, Micro Enterprise means investment in Plant & Machinery does not exceed Rs. 25.00 Lakh and Small Enterprise means investment in plant & machinery exceeds Rs. 25.00 Lakh but does not exceed Rs. 5.00 Crore.
• In case of Service Enterprise, Micro Enterprise means investment in equipment does not exceed Rs. 10.00 Lakh and Small Enterprise means investment in equipment exceeds Rs. 10.00 Lakh but does not exceed Rs. 2.00 Crore.

This rule is made to protect the interest of Micro and Small enterprises. So all Micro and Small enterprises are requested to get registered under MSME and file Udyog Aadhaar Memorandum (UAM) and quote UAM No. in all Tax Invoices raised by them to safeguard the payment.