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V.S. Datey on Companies Act, 2013
  • Interest under MSME Act

    by RAJESH on Thursday, June 20, 2019 at 04:08 PM

    1)The co. is making payment beyond 45 days to MSME but no interest is paid as per MSME Act.MSME unit is having no objection but whether this statutory liability has to be calculated by auditors and has to qualify the report as co.is saying that int. need not to pay as per mutual understanding. Whether confirmation from MSME unit that there is no outstanding will be sufficient. 2) What will be GST implication in case of related parties/Non related parties(Tolerance of Act/Deemed supply)

    Replied byV.S. Datey Friday, June 21, 2019 at 09:34 AM

    1. if he waves in wirting - need not be shown 2. payable in both cases - what doi u mean by deemed supply? V S Datey

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