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Interest on delay payment to MSME’s – Implications

Interest on delay payment to MSME’s – Implications

by Anil Kumar Tenneti | Nov 4, 2020 | COMPANY LAW, GST, INCOME TAX

Background – As per Section 16 of the MSMED Act, if a buyer fails to make payment of amount to the  supplier, then the buyer shall be liable to pay compound interest with monthly rest to such supplier. This provision has an overriding effect on the agreement, if...

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