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Dated: 25 March 2025: In a significant move to strengthen financial transparency and support Micro and Small Enterprises (MSEs), the Ministry of Micro, Small and Medium Enterprises (MSME) has issued a notification mandating all companies to submit a half-yearly return to the Ministry of Corporate Affairs (MCA) under Section 9 of the MSME Development Act, 2006.
🔍 Key Highlights:
All companies that procure goods or services from MSEs and have outstanding payments exceeding 45 days from the date of acceptance (or deemed acceptance) must comply.
This rule applies as per Section 15 of the MSME Development Act.
The return must include:
✅ Total outstanding payment amount
✅ Detailed reasons for the delay in payment
📌 Objective:
This directive aims to ensure prompt payments to MSEs, improving their working capital cycle and reducing dependency on external borrowings.
💡 SteelBazaar Insight:
For companies in the steel sector, especially those sourcing from small re-rollers, scrap dealers, or fabrication units, this notification highlights the growing regulatory focus on MSME empowerment. Regular audits and clean payment practices will be crucial going forward.
🔗 Industry stakeholders are encouraged to review their payment timelines and ensure compliance to avoid regulatory scrutiny.
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