Whether interest on msme is allowed

MSME Compliance

All You Need to know about MSME Compliances

MSME (Micro Small and Medium Enterprise) is the pillar for the economic growth in many developed and developing countries across the world. These micro small and medium enterprises help in the accelerating the growth of our economy in the same as small things contribute towards the formation of the heap. Micro Small and Medium Enterprises …

All You Need to know about MSME Compliances Read More »

MODIJI-2b1fa055

MSME Annual Compliance – Interest on delay payment to MSME’s

Background – Section 16 of the MSMED Act provides that in case 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 any, between the buyer and the MSME …

MSME Annual Compliance – Interest on delay payment to MSME’s Read More »