MSME Return (MSME Form-1)

Every company is required to file MSME Form-1 an obligatory return to the MCA every six months, disclosing the outstanding amounts payable to Micro and Small Enterprises (MSEs) for more than 45 days. This is for compliance of transparency and timely payments which are the interests of MSE suppliers.

Thank you! Your submission has been received!

Oops! Something went wrong while submitting the form.

Service Overview

MSME Return (MSME Form-1) service caters to successfully filing accurate half-yearly returns and compliance with MCA. End-to-end support is provided-from identifying relevant transactions to submitting the form thus reducing the chances of penalty.

‍Challenges of Filing for a Private Limited Company

Complex Procedures

The formation of the private limited company is quite complex as it requires many legal formalities.

Time-Consuming

Sometimes, its exhausting to gather all the necessary papers and fill out all necessary documents.

Share Limit

In a Private Limited Company there is a limit of 200 shareholders, with a restricted limit on share transfers.

Business Commencement

Within 180 days of registering a Private Limited Company, the certificate of commencement of business must be obtained.

‍Challenges of Filing MSME Return

Identifying MSE Suppliers and Transactions

Recognizing which suppliers qualify as Micro or Small Enterprises may become challenging, but careful verification will ensue to get the appropriate report in MSME Form-1.

Payment Duration Accurately Calculated

Herein lies the onerous requirement of taking time to keep a full record of payments and to be as precise as possible so as to fall within the 45-day window.

Timely Collection of All Required Information

Including everything from supplier PANs through outstanding amounts-to necessary reasons for the payment delays calls for really cut-throat coordination and management of data.

All Compliance Filing Deadlines

Compliance with filing deadlines for example, April 30 and October 31 must be adhered to avoid penalties and must be set according to planning and execution before that.

Advantages of MSME Return

Ensures compliance with regulations

You protect MCA regulations through our service from legal penalties associated with its breach.

Facilitates filing

Simplifying a complex filing system saves your company both time and administrative overhead.

Achieves penalty risk reduction

Accurate and timely filing minimizes the risk of financial penalties.

They Empower Relationship With Suppliers

Timely payments and compliance between MSE suppliers build trust and strengthen relationships.

Service Process

01

Supplier Verification

Providers should be identified and verified as Micro, Small or Medium Enterprise under the MSME Act.

02

Information Gathering

Supplier and pending amounts, along with the reasons for delaying payment, should be part of the data gathered.

03

Company Classification Check

Confirm that the reporting company falls under the mandatory category required to file MSME Form-1.

04

Payment Duration Analysis

Calculate the number of days payments have been outstanding to identify those exceeding 45 days.

05

Form Preparation

Accurately fill out MSME Form-1 with the collected data, ensuring all information is correct.

06

Submission

Submit the completed form to the MCA before the applicable deadline to ensure compliance.

Guaranteed

100%

This is some text inside of a div block.

Guaranteed

100%

This is some text inside of a div block.

Guaranteed

100%

This is some text inside of a div block.

Guaranteed

100%

This is some text inside of a div block.

Service Process

Consultation

We will have a consultation regarding your business vision and requirements to decide on whether the private limited company fits you well.

Documentation

We will help you to do the paperwork involving preparation of the Memorandum of Association and Articles of Association.

Registration

We will then forward all the necessary documents to the Registrar of Companies as required for registration.

Support

We will always be here with you to offer assistance and advice so that you can efficiently run your private limited company.

Compliance:

We will assist you in maintaining a continuing compliance with all legal and regulatory standards.

Service Process

Guaranteed

100%

This is some text inside of a div block.

Consultation

This is some text inside of a div block.

Guaranteed

100%

This is some text inside of a div block.

Consultation

This is some text inside of a div block.

Guaranteed

100%

This is some text inside of a div block.

Consultation

This is some text inside of a div block.

Guaranteed

100%

This is some text inside of a div block.

Consultation

This is some text inside of a div block.

Service Breakdown

Eligibility

Companies Registered by Act: All organizations chartered under the Companies Act, 2013.

Engagement with MSE: The companies that receives supplies from MSE, Micro and Small Enterprises.

Outstanding Dues Over 45 Days: Companies with payment delays exceeding 45 days from acceptance.

Non-Medium Enterprise Suppliers: Suppliers must be classified as Micro or Small, not Medium Enterprises.

Documents

Udyam Registration Certificate: Proof of MSME registration to validate eligibility for filing.

Financial Statements: Profit and loss statements and balance sheets to showcase business performance.

Outstanding Payments Details: Information on pending payments to micro and small enterprises.

Bank Transaction Statements: Ensures transparency in financial dealings related to the MSME.

Board Resolution (if applicable): Required in case of a company to authorize return filing.

Who Needs

Companies with MSE Suppliers: Businesses procuring goods or services from Micro and Small Enterprises.

Entities with Outstanding Payments: Companies with payments pending beyond 45 days to MSE suppliers.

Organizations Seeking Compliance: Firms aiming to adhere to MCA regulations regarding supplier payments.

Businesses avoiding Penalties: Traders and Merchants who wish to avoid fines for non-compliance with payments.

Creating Trust-Driven Relationships

JR Compliance is one of the known name for BIS certification, they are well versed with processes
and guide client properly.

Kartik Shah

Published on 4 March 2024

We have outsourced the entire BIS certification responsibility of our panels to JR compliance since 2017 and their service so far has been
exemplary.

K Narayanan

Published on 4 March 2024

We have been using JR Compliance services since last 3 years on various BIS related registration & testing of our various IT & electronic products. We really appreciate your full-fledged & excellent support in all respect in this matter.

P N Dhawanjewar

Published on 4 March 2024

FAQ

Services

What Exactly is MSME Form-1?

It is a form of mandatory half-yearly return that all companies must file when they withhold any payment of over 45 days against supplies to MSEs–microscale and small scale enterprises. This will make them accountable for the payment for transparency in the system and timely payments to MSE suppliers.

Who shall file MSME Form-1?

In this case, only those companies should file the MSME Form-1 where their payments exceed 45 days from the date of goods or services received by MSE suppliers. While protecting the interests of MSEs and enforcing that businesses pay on time, this guarantees the obligations of payment.

What are the Consequences of not filing the MSME returns?

In this case, only those companies should file the MSME Form-1 where their payments exceed 45 days from the date of goods or services received by MSE suppliers. While protecting the interests of MSEs and enforcing that businesses pay on time, this guarantees the obligations of payment.

When Are the Due Dates for Filing?

MSME Form-1 must be filed twice annually:
1. By April 30 for the period October–March.
2. By October 31 for the period April–September.

How Can JR Compliance Assist?

JR Compliance provides end-to-end support for online MSME Form-1 filing. Our services include verifying supplier details, collecting necessary data, preparing the form, and finally, timely submission. Doing these, businesses can have assurance concerning compliance, avoid penalties, and maintain a positive relation with their suppliers.