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

    by rajesh on Saturday, June 22, 2019 at 01:30 PM

    1. If MSME unit do not waive in writing the interest payable under MSME Act then whether auditor need to quantify the amount in Auditors report. 2. When Act itself says that despite written agreement of more then 45 days , payment has to be made in 45 days. So if MSME unit waives interest then it will defeat the purpose of ACt. 2) If MSME unit is group concern then though int. not charged but whether will be treated as deemed supply under schedule 1 of GST and liable to GST on deemed int..

    Replied byV.S. Datey Saturday, June 22, 2019 at 06:13 PM

    personal right under Act can be waived V S Datey

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