Introduction
The Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 provides statutory safeguards to MSMEs, including mandatory compound interest at three times the RBI bank rate for payments delayed beyond 45 days. With the introduction of Section 43B(h) in the Income Tax Act, non-payment to MSMEs within agreed timelines results in the disallowance of buyer business expenses.
H N Malpure & Associates provides specialized advisory to MSMEs for Udyam registration, subsidy procurement, and delayed payment recovery via the national MSME Samadhaan portal, while assisting corporate buyers in maintaining flawless Form MSME-1 compliance.
Our Approach
We represent micro and small enterprises before Micro & Small Enterprises Facilitation Councils (MSEFC), drafting demand notices and recovery petitions that enforce statutory compound interest provisions. For corporate buyers, we implement vendor classification workflows and timely reporting to mitigate tax disallowance risks.
MSME Legal Protection Principle: Enforcing statutory MSMED Act provisions protects working capital, eliminates bad debts, and establishes financial discipline across commercial supply chains.
Comprehensive Practice Scope
Our MSME advisory and compliance practice encompasses:
- Udyam Registration & Reclassification: Setup, renewal, plant & machinery investment calculation, turnover verification, and Udyam certificate procurement.
- MSME Samadhaan Delayed Payment Claims: Drafting Section 16 demand notices, preparing recovery claim petitions on the national MSME Samadhaan portal, and representation before MSEFC councils.
- Section 43B(h) Income Tax Alignment: Auditing buyer-supplier contract terms, establishing 45-day payment tracking systems, and preparing vendor disclosure registers.
- Corporate Form MSME-1 Filings: Half-yearly mandatory reporting on the MCA21 portal detailing outstanding supplier dues exceeding 45 days.
Why It Matters for Your Business
For MSMEs, delayed payments stifle cash flow and growth. For corporate buyers, failing to adhere to MSME deadlines leads to heavy tax penalties and MCA prosecution. HNMA bridges this gap with comprehensive statutory management.
Let's Work Together
Protect your cash flows and maintain supply chain compliance with H N Malpure & Associates.
Practice Scope & Key Execution Areas
Udyam Registration & Enterprise Structuring
- Diagnostic evaluation of plant/machinery investment and turnover for MSME categorization
- Filing and procurement of official Udyam Registration Certificates
- Annual verification and updating of ITR and GST data on the Udyam portal
- Advisory on priority sector lending benefits and public procurement exemptions
MSME Samadhaan Delayed Payment Recovery
- Drafting statutory demand notices claiming mandatory 3x RBI compound interest under Section 16
- Preparation, collation of invoices/delivery proofs, and filing petitions on MSME Samadhaan portal
- Representation before State Micro and Small Enterprises Facilitation Councils (MSEFC)
- Execution of settlement agreements and enforcement of arbitration awards
Section 43B(h) Compliance & Vendor Auditing
- Review of buyer-vendor commercial contracts and payment terms alignment
- Establishment of automated 15-day / 45-day invoice due date tracking mechanisms
- Preparation of MSME vendor verification dossiers for statutory tax auditors
- Mitigation of Income Tax expense disallowance under Section 43B(h)
Corporate Form MSME-1 Semi-Annual Filings
- Bi-annual identification and aging analysis of outstanding micro/small enterprise dues
- Preparation of detailed reasons for payment delays and vendor-wise outstanding schedules
- Filing e-Form MSME-1 on MCA V3 portal for the half-year periods ending April and October
- Advisory on board report disclosures concerning MSME supplier compliance