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Micro, Small & Medium Enterprises Development Act, 2006

poonam verma (Company Secretary) (191 Points)

08 February 2008

My Co. is a manufacturing concern. Whether it is complusory for it to issue letters to our customers to know whether they registered under the above act, and if it don't do so what are the penal consequences. Isn't it that Co. will be bound to make payment to its customers within maximum 45 days after it got letters from them that they are registered under MSMED Act, 2006.

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Poonam

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21 Replies

(Guest)

Every company has to pay within the stipulated time to the enterprises which are Micro, Small and Medium enterprises. Otherwise the organisation has to pay interest at three times of RBI rate. The Act has vested further burden on the auditor to specify the principal and interest amount paid and payable in the annual accounts.

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(Guest)

Whether Service Industry required to issue letter to customeres about whether they are register under the SME Act. 2006

poonam verma (Company Secretary) (191 Points)
Replied 21 February 2008

Yes, according to the definition of Buyer given in the act, buyer means whosoever buys any goods or receives any services from a supplier for a consideration. So, if a service industry is a buyer than it has to issue letter to its customers to know whether they are registered in the act or not.

(Guest)

Our Company is consultant company.Is this complusory to register under MSMED Act 2006.

(Guest)

I am doing courier services ( frainchiecy ), do I need to do registration of my firm under MSMTD act-2006. If yes then how can I do it,

waiting for reply.

Surendra

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imtiyaz (Article) (22 Points)
Replied 30 May 2008

It is mandatory to register for Professional firms under MSMED ACT.

Sadhana S Joshi (Business Women) (26 Points)
Replied 31 May 2008

We Would like to Register under MSMED Act, 2006

Sadhana S Joshi (Business Women) (26 Points)
Replied 31 May 2008

We Would Like to Register under MEMED ACt, 2006

(Guest)

I am in Gujarat, Where shoud i go to register my business under MSMEDA

Ashley (cs) (178 Points)
Replied 19 June 2008

I guess limits specified in the act applies to company as a whole and not to each of its unit since it may be possible that one unit investmen in P&M is 4 crores and n other 2 cr and in another 5 crores. contrary views solicited

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poonam verma (Company Secretary) (191 Points)
Replied 20 June 2008

yes u r right, these limits are applicable to the co. as a whole not for the each unit of the co.

(Guest)

Our company has a trading activity if we require to register under the act

(Guest)

Could uou please send me the address of office where I need to get my company registered in New Delhi ? Mine is service industry under small category.