**Policy Summary**
This notification, S.O. 5622(E), issued by the Ministry of Micro, Small and Medium Enterprises on November 2, 2018, mandates specific reporting requirements for companies regarding payments to micro and small enterprises (MSEs). Enacted under Section 9 of the Micro, Small and Medium Enterprises Development Act, it directs all companies receiving goods or services from MSEs to submit a half-yearly return to the Ministry of Corporate Affairs if their payments to these suppliers exceed forty-five days from the date of acceptance (or deemed acceptance) of the goods or services. The return must include: (a) the amount of payments due to MSEs; and (b) the reasons for the payment delay. The policy is referenced as F.No.4312018-PGPolicy.
Key Entities Referenced
Micro, Small and Medium Enterprises Development Act: An Act providing for the facilitation and promotion and enhancement of the competitiveness of micro, small and medium enterprises.
Central Government: The executive authority of India.
Ministry of Corporate Affairs: The Indian government ministry which regulates corporate affairs in India.
Micro and small enterprises: Small businesses as defined by the Micro, Small and Medium Enterprises Development Act.
New Delhi: The location of notification and Government of India Press.
RAM MOHAN MISHRA: Addl. Secy.
Mayapuri, New Delhi: Location of the Government of India Press.
Delhi: Location of the Controller of Publications.
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[फा.सं. 4/3(1)/2018- पीएंडजी/पॉिलसी]
राम मोहन िम:ा, अपर सिचव
MINISTRY OF MICRO, SMALL AND MEDIUM ENTERPRISES
NOTIFICATION
New Delhi, the 2nd November, 2018
S.O. 5622(E).—In exercise of powers conferred by Section 9 of the Micro, Small and Medium Enterprises
Development Act, the Central Government hereby directs that all companies who get supplies of goods or services from
micro and small enterprises and whose payments to micro and small enterprise suppliers exceed forty five days from the
date of acceptance or the date of deemed acceptance of the goods or services as per the provisions of the Act, shall
submit a half yearly return to the Ministry of Corporate Affairs stating the following:
(a) The amount of payments due; and
(b) The reasons of the delay.
[F.No.4/3(1)/2018-P&G/Policy]
RAM MOHAN MISHRA, Addl. Secy.
6515 GI/2018
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.