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MSME Query urgent 1

Dimpy (Accounts) (95 Points)

19 March 2024

HELLO

SHOULD WE CLEAR ALL PAYMENTS TO MSME BEFORE 31ST MARCH, 2024? OR THE RULE IS APPLICABLE FROM 1ST APRIL, 2024?

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4 Replies

RAJA P M ("Do the Right Thing...!!!") (127921 Points)
Replied 19 March 2024

The Rules is applicable from AY 2024-25.
Means, it's applicable in the FY 23-24. So, as on 31st March 24 clear the outstanding payment as per the act.

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Bindu (CA Final Student) (112 Points)
Replied 19 March 2024

The rule is applicable from A.Y 2024-25 i.e from 1.4.2023.

sabyasachi mukherjee (27117 Points)
Replied 20 March 2024

All payments means

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 21 March 2024

Rule was applicable from 01.04.2023 and you have to clear all payments by 31 March 2024.

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