Informative

Companies May Face Penalty Up to ₹3 Lakh for Not Filing MSME-1 on Delayed Payments

Update / Judgement Date

22 Apr 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Corporate ComplianceMSME & Udhyam

Companies may face penalties for not filing MSME Form I regarding delayed payments to Micro and Small Enterprises. This highlights the regulatory requirement for companies to disclose information about outstanding payments to MSMEs beyond a specified timeframe. Failure to comply with this reporting requirement can attract penalties, aimed at ensuring timely payments to small businesses and promoting their financial health.

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Companies May Face Penalty Up to ₹3 Lakh for Not Filing MSME-1 on Delayed Payments

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