Hello everyone,

Trust all of you doing amazing in life and enjoying our corporate updates. Today we would like to share our viewpoints regarding MSME-1. Hope you will share this writeup with your near and dear ones:-

  1. e-Form MSME-1 has to be filed twice (Due Date – May 30, 2019).
  2. 1st MSME-1 for amounts outstanding as on 22.1.2019. This is a one time return.
  3. 2nd MSME-1 for amounts outstanding as on 31.3.2019. This is a half yearly return.
  4. Just like DPT-3, MSME-1 is also NOT REQUIRED to be filed where there is NIL reporting/ outstanding.
  5. Form MSME-1 is required to be filed only when the amount is outstanding beyond 45 days from the date of acceptance of supplies.
  6. It is to be filed only when the amount due is to suppliers who are registered under the MSME Act 2006 and the company knows about the same.
  7. Certification by professional is NOT required in MSME Form.
  8. These Forms are to be filed only by Companies.