What is MSME Form 1 Compliance?
Nexa Consultancy | Startup & Finance Glossary
A half-yearly return that must be filed by "Specified Companies" detailing any outstanding payments due to Micro and Small Enterprises (MSMEs) for more than 45 days.
Startup Example: A startup procures services from a vendor who is registered as a Micro Enterprise. If the startup fails to pay the vendor's invoice within 45 days, it must report this overdue amount in its next MSME Form 1 filing with the ROC.
Tracking payables is a key feature of our bookkeeping services.