**Executive Summary**
This notification, issued by the Ministry of Micro, Small and Medium Enterprises on June 30, 2026, mandates all operating Central Public Sector Enterprises (CPSEs) to use the Trade Receivables Discounting System (TReDS) for settling MSME invoices. The directive aims to formalize transaction settlements for goods and services procured from micro, small, and medium enterprises. The notification is effective immediately from its date of publication in the Official Gazette.
**Key Points / Main Content**
**Mandatory TReDS Usage**
* All operating CPSEs must route the settlement of invoices for procurement from MSMEs through any TReDS platform authorized by the Reserve Bank of India (RBI).
* The routing of invoices is compulsory for CPSEs, but it does not mandate the discounting of those invoices.
**MSME Supplier Rights**
* MSME suppliers have the sole discretion to choose whether to avail of financing or discounting for their receivables on the TReDS platform.
**Reporting and Disclosure**
* Operating CPSEs and other notified authorities must disclose details of MSME invoices routed and settled via TReDS.
* Disclosures must follow the form and manner specified by the RBI.
**Audit and Compliance**
* CPSEs are required to obtain a certificate from their statutory auditors during the annual statutory audit.
* The certificate must confirm that the CPSE is registered with at least one TReDS platform and is in compliance with the instructions of this notification.
**Impact Analysis**
**Central Public Sector Enterprises (CPSEs)**
**Impact**
CPSEs are now legally required to integrate TReDS into their financial settlement processes for all MSME-related procurements.
**Action Required**
CPSEs must register on at least one RBI-authorized TReDS platform, route all MSME settlements through it, and maintain records for RBI-specified disclosures and statutory audits.
**Micro, Small and Medium Enterprises (MSMEs)**
**Impact**
MSME suppliers gain a standardized, transparent platform for invoice settlement with CPSEs and access to optional liquidity through discounting.
**Action Required**
MSMEs must decide on a case-by-case basis whether to utilize the financing and discounting options available on the TReDS platform.
**Statutory Auditors**
**Impact**
Auditors are now responsible for verifying TReDS compliance as part of the annual statutory audit of CPSEs.
**Action Required**
Auditors must verify a CPSE’s registration on a TReDS platform and ensure adherence to the notification's guidelines before issuing the required compliance certificate.
Key Entities Referenced
Trade Receivables Discounting System (TReDS): The mandatory transaction settlement platform used for the financing and discounting of trade receivables for micro, small, and medium enterprises.
Micro, Small and Medium Enterprises Development Act, 2006: The primary legislation under which the Central Government exercises powers to mandate TReDS usage for invoice settlements.
Central Public Sector Enterprises (CPSEs): The specific class of government-owned entities mandated to route and settle MSME procurement invoices through authorized TReDS platforms.
Ministry of Micro, Small and Medium Enterprises: The issuing authority responsible for the notification and policy oversight regarding MSME financial settlement instructions.
Reserve Bank of India: The regulatory body responsible for authorizing TReDS platforms and specifying the format for disclosing settled invoice details.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-02072026-273996
CG-DxLx-xEG-I0D2H0x7x2x0 26-273996
xxxGIDExxx
असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 3372] नई दिल्ली, मगं लिार, िनू 30, 2026/आषाढ 9, 1948
No. 3372] NEW DELHI, TUESDAY, JUNE 30, 2026/ASHADHA 9, 1948
सक्ष्ू म, लघ ुऔर मध्यम उद्यम मत्रं ालय
अजधसचू ना
नई दिल्ली, 30 िून, 2026
का.आ. 3507(अ).—केंद्रीय सरकार, सूक्ष्म, लघु और मध्यम उद्यम जिकास अजधजनयम, 2006 (2006 का 27)
की धारा 10 के साथ पठित धारा 9 द्वारा प्रित्त िजियों का प्रयोग करते हुए, केंद्रीय पजललक सेक्टर उद्यम (सीपीएसई)
द्वारा व्यापार प्राप्य छूट प्रणाली (रेड्स) को संव्यिहार जनपटान प्लेटफॉमम के रूप में उपयोग हते ु अजनिायम करने के जलए
जनम्नजलजखत अनिु ेि िारी करती है;
(i) सभी प्रचालनीय सीपीएसई को सूक्ष्म, लघ ु और मध्यम उद्यमों से माल या सेिाओं के उपापन के संबंध म ें
चालानों, का जनपटान, भारतीय ठरििम बैंक द्वारा प्राजधकृत दकसी भी रेड्स प्लेटफॉमम के माध्यम से करना होगा।
परंतुक दक सीपीएसई द्वारा रेड्स प्लेटफॉमम के माध्यम स े चालानों के भेिने को ऐसे चालानों की छूट को अजनिाय म
करने के रूप में नहीं माना िाएगा और सूक्ष्म, लघ ु और मध्यम उद्यम आपूर्तमकताम के पास प्लेटफॉमम पर अपनी प्राप्य रकम
के जित्तपोषण या छूट का उपभोग प्राप्त करन े या उपभोग न करने का जिकल्प होगा;
(ii) सभी प्रचालनीय सीपीएसई या केंद्रीय सरकार द्वारा अजधसूजचत कोई अन्य प्राजधकरण, जनकाय या अजस्ट्तत्ि
भारतीय ठरििम बैंक द्वारा जिजनर्िमष्ट अनुसार प्ररुप और रीजत में, रेड्स के माध्यम स े भेिे गए और जनपटान दकए गए सूक्ष्म,
लघ ु और मध्यम उद्यमों के चालानों का लयौरा प्रकट करेंगी;
4845 GI/2026 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
(iii) सभी प्रचालनीय सीपीएसई के जलए यह अजनिायम ह ै दक िे अपन े कानूनी लेखा परीक्षकों से एक प्रमाण-पत्र
प्राप्त करना सुजनजित करें दक िे कम से कम दकसी एक रेड्स प्लेटफॉमम पर रजिस्ट्रीकृत ह ैं और उनकी िार्षमक कानूनी
लेखापरीक्षा के िौरान इस अजधसूचना के मागमििमक जसद्ांतों की अनुपालना करते ह।ैं
2. यह अजधसूचना रािपत्र म ेंइसके प्रकािन की तारीख को प्रितृ होगी।
[फा.सं. 16/8/2018/ई-पी एडं िी/नीजत]
डॉ. रिनीि, अपर सजचि एिं जिकास आयुि
MINISTRY OF MICRO, SMALL AND MEDIUM ENTERPRISES
NOTIFICATION
New Delhi, the 30th June, 2026
S.O. 3507(E).—In exercise of the powers conferred by section 9 read with section 10 of the Micro, Small
and Medium Enterprises Development Act, 2006 (27 of 2006), the Central Government hereby issues the following
instructions for mandating the use of Trade Receivables Discounting System (TReDS) as a transaction settlement
platform by the Central Public Sector Enterprises (CPSEs);
(i) all operating CPSEs shall, in respect of procurement of goods or services from the micro, small and medium
enterprises, route the settlement of invoices through any TReDS platform authorised by the Reserve Bank of India;
Provided that the routing of invoices by CPSEs through the TReDS platform shall not be construed as mandating
discounting of such invoices and the micro, small and medium enterprise supplier shall have the option to avail or not
avail financing or discounting of its receivables on the platform;
(ii) all operating CPSEs or any other authority, body or entity notified by the Central Government shall disclose the
details of invoices of micro, small and medium enterprises routed and settled through TReDS, in the form and manner
as specified by the Reserve Bank of India;
(iii) all operating CPSEs mandated to ensure a certificate from their statutory auditors that they are registered with at
least one TReDS platform and are in compliance with guidelines of this notification, during their annual statutory
audit.
2. This notification shall come into force on the date of its publication in the Official Gazette.
[F. No. 16/8/2018/E-P&G/Policy]
Dr. RAJNEESH, Addl. Secy. and Development Commissioner
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.