Hey there, business owners! Navigating corporate compliance can feel like a maze, especially when it comes to specific forms like MSME Form 1. But don't worry, FilingWorld.in is here to simplify your 'MSME Form 1 Filing' journey with the Ministry of Corporate Affairs (MCA). Let's dive in!
What is MSME Form 1?
Simply put, MSME Form 1 is a crucial declaration companies file with the MCA regarding outstanding payments to MSME suppliers. It's designed to ensure timely payments to our vital MSME sector. If your company has payments overdue by more than 45 days to any Micro or Small Enterprise supplier, this form is for you.Who Needs to File?
This form applies to all companies (private or public) that have received goods or services from Micro and Small Enterprises and whose payments to these suppliers are overdue for more than 45 days from the date of acceptance. This applies to both initial defaults (for specified period ending Oct 2018) and subsequent defaults on half-yearly basis (April to September and October to March).Your Step-by-Step MSME Form 1 Filing Guide
Filing MSME Form 1 is straightforward. Here’s how you can do it:- Access the MCA Portal: Log in to the official MCA website with your company's credentials.
- Locate the Form: Navigate to 'MCA Services' -> 'E-Filing' -> 'Company Forms' -> 'MSME Form 1'.
- Fill in Details: Provide your Company Identification Number (CIN) and registered office address. Crucially, input particulars of the outstanding dues to MSME suppliers: their name, PAN, amount due, and the date from which payment is overdue.
- Digital Signature: The form requires a valid Digital Signature Certificate (DSC) from a Director, Manager, Company Secretary, or CEO of the company.
- Upload and Submit: Affix the DSC, upload the e-form on the MCA portal, and receive your SRN (Service Request Number) upon successful submission.