All About ROC Return Form MSME-1

What is MSME FORM I return?

MSME Form I is the half yearly return to be filled by every company with the ROC. This return contain detail of all the outstanding payments to the micro and small for the goods and services supplied by them. All the payments which due from more than 45 days needs to be reported under this return.

Details to be covered under MSME form I

Apart the basis details required of reporting entity, form MSME – I also required details related to:

(a) the total amount of payment due; and

(b) the reasons for the delay;

The above-mentioned detail is required to be provided in below tabular format.

Due dates of MSME FORM I

As per the specified companies (Furnishing of information about payment to micro and small enterprises supplier) order, 2019 following are the due dates for MSME Form I

Initial return – with 30 days of publication of notification (i.e. 21st Feb 2019)

Half Yearly Return

Half yearly for the period April to September – 31st October

Half yearly for the period October to March – 30th April

Who is specified company for MSME FORM I

All the companies will have to file MSME – 1 if following conditions are satisfied.

Who get supplies of goods or services from Micro and Small Enterprises and

Whose payments to Micro and Small Enterprises Suppliers exceed 45 days from the date of acceptance or the date of deemed acceptance of the goods or services

Such companies will be called as specified companies.

Micro and small companies are covered and not medium enterprises

As per the notification, outstanding dues to only Micro and small enterprises will have to be reported. As per MSME Act following table will be help full to understand the difference between Small, Micro and Medium enterprises.

Type of enterprises	Investment in Plant & Machinery	MSME-1 applicability
Manufacturing activities	Services activities
Small enterprises	Up to 25 lacs	Up to 10 lacs	MSME-1 applicable
Micro enterprises	More than 25 lacs but up to 5 crore	More than 10 lacs but up to 2 crore	MSME-1 applicable
Medium enterprises	More than 5 crores but up to 10 crores	More than 2 crores but up to 5 crore	MSME-1 not applicable

Penalties for non filing of MSME-01 Form?

As per section 405(4) if the companies fail to comply with as order or knowing furnishes or statistics which is incorrect or incomplete in any material respect, the company will be punishable as given in below table.

In other words, non-filing of MSME – 01 form or giving incorrect or incomplete form in any material aspect, following penalties may be levied for MSME-01 Form

Particulars	Penalty
on defaulting company	Extended up to Rs. 25000
Every officer who is in default	Minimum fine Rs. 25000 which may extend to Rs. 300000 or Imprisonment which may extended to 6 months or both