Is there any Clause that Interest Clause is not applicable to Medium Enterprises under MSMED Act 2006.
one of Customer says that this clause is applicable to Micro and Small.
Please Clarify..
Thankyou
Chapter V of MSMED Act, 2006 is titled "Delayed Payments to Micro and Small Enterprises". The Interest section (Sec. 16) comes under this chapter. Hence the interest payment applies to Micro and Small Enterprises only.
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