New Delhi, Feb 23 (KNN) The Ministry of Corporate Affairs (MCA) has extended the due date for filing of initial return in form MSME-I on MCA portal 21 in order to avoid inconvenience to stakeholders on account of various factors.

In a recent notification MCA said “The period of 30 days for filing initial return in MSME Form 1 as specified in Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019 dated January 22, 2019 shall be reckoned from the date the said e-form is deployed on MCA 21 portal.”

MCA has clarified that the due date for filing of initial return in Form MSME-I has been extended, now the period of 30 days shall be reckoned from the date of deployment of Form MSME-I on MCA 21 Portal.

The MSME I Form is for the payment of half yearly return with the Registrar of Companies (ROC) in context of the outstanding payments to Micro or Small Enterprises.

A half-yearly return is required to be submitted to the Ministry of Corporate Affairs on a mandatory basis, by all those companies who receive supply of goods or services from Micro or small enterprises and the payment done to these micro and small enterprise suppliers exceeds forty-five days from the date of acceptance (or deemed acceptance) of the relevant good or services. (KNN/YV)