Closing Your Books in 2024? Know MSME 45 Days Payment Rule in 2024

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  • čas přidán 21. 08. 2024
  • Effective from April 1, 2023 (FY 2023-24 & AY 2024-25), Section 43B(h) of the Income Tax Act has been a crucial amendment aimed at ensuring timely payments to Micro and Small Enterprises (MSEs). This section imposes disallowances for delayed payments, impacting the taxable income of the assessee. It is applicable to all types of purchases made from enterprises registered under the MSMED Act, 2006.
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Komentáře • 322

  • @CAGuruJi
    @CAGuruJi  Před 7 měsíci +5

    Read more: taxupdates.cagurujiclasses.com/new-section-43bh-of-the-income-tax-act-timely-payments-to-msmes-or-disallowance-of-expense/
    ________________________________________________
    💁🏼 Learn GST, Income Tax, ITR, Accounting, Tally, Trademark, TDS Returns: cagurujiclasses.com
    📞 Call at 9150010400 (only for courses)
    _______________________________________________

    • @jitender-gt9sl
      @jitender-gt9sl Před 7 měsíci

      Aaaa😂a😂qZqz😂aq😂q😂qaaq😂pl
      Ljj😊

    • @rajneesh7367
      @rajneesh7367 Před 6 měsíci

      Agreement kaise karna hain ?

  • @sharmanarayan2726
    @sharmanarayan2726 Před 7 měsíci +2

    धन्यवाद जी आपने हमारे मेसेज को घमभीरता से लिया और वेदियो बनाकर सरल भाषा मे समझाने का प्रयास किया।

  • @sandeepkumaragarwal9820
    @sandeepkumaragarwal9820 Před 6 měsíci +2

    All traders association should come along and strike....Because traders receive payment from customers like 4 months 6 months....and traders have to pay to their supplier within 15 days or otherwise have to pay heavy interest on dues...this is unjustice to traders....

  • @vikramthakur613
    @vikramthakur613 Před 6 měsíci +1

    Thank you mam, your examples give complete clarity.

  • @nidhivegad8092
    @nidhivegad8092 Před 6 měsíci +2

    This explaintions is worth . We need such examples to understand this

  • @prathameshbile5865
    @prathameshbile5865 Před 6 měsíci +3

    Very well explained....Thank You so much ma'am!

  • @rohanbrahmbhatt2633
    @rohanbrahmbhatt2633 Před 7 měsíci +2

    This is complicated..my query is ,in a manufacturing unit it takes months to become a product and sale it...lets take an example of jeans..process takes 50 days from buying the fabric to ready to sale..how do they expect manufacturer to pay for the same.

  • @surjeetray7095
    @surjeetray7095 Před 6 měsíci +1

    it is very useful madam we are thankful to you god blesss you

  • @arunlakhanpal2578
    @arunlakhanpal2578 Před 6 měsíci

    I wish govt would have given incentive to big players to buy goods and make payment fast to MICRO business. Now will have to open another account without registration.

  • @VIVEKSINGH-jz2bi
    @VIVEKSINGH-jz2bi Před 6 měsíci +8

    I paid fees for GST query last week but this channel not provide me proper reply. So I experienced that this is fake. Not suggest this is fare.

  • @ashutoshbrahminofficial1052
    @ashutoshbrahminofficial1052 Před 5 měsíci +1

    Kya ma'am isme 5 crore ke under bale business man. Bhi ayenge ?

  • @sanjaygoodluck2061
    @sanjaygoodluck2061 Před 7 měsíci +1

    As per various deliberations and discussions made, provision regarding payment within 45 days is *not applicable* for purchases made from suppliers who are *exclusively* engaged only in *trading*
    The provisions regarding payment within 45 days is *applicable only to suppliers engaged in manufacturing or providing services*

    • @vipulshah3804
      @vipulshah3804 Před 6 měsíci +1

      Sir, this your answer is really helpful for us who are in trading, but it's really sad that we have to depend on " discussion" as you said here, means why there is no clarity?
      If it's clearly told then lakhs of small traders/supplier like us can have proper clarity about law.
      If you can get more clarity then please let us know, to make sure about this law. Bcoz through the year we had made payment to our creditors as per mkt credit set since many years. Now we are in tension. No one has informed about this law since almost this year passed.

  • @akshayverma2940
    @akshayverma2940 Před 4 měsíci +1

    Thankyou so much mam😊😊😊

  • @myheroisdr.ambedkar4610
    @myheroisdr.ambedkar4610 Před 6 měsíci +18

    Now big players will not buy any goods from Micro and Small businesses players, my god save india

    • @shashankMittal
      @shashankMittal Před 6 měsíci +6

      Bevakoof Big players hold payment which they use for there own purpose. If small player will get payment timely he will use that money for faster roation of business.

    • @ravishukla7573
      @ravishukla7573 Před 6 měsíci +2

      ​@@shashankMittalare thek h wo bde player h jo payment rokte hain..
      Lekin hm jaise small seller ka kya hoga sir...
      Phle 20 25 lakh ka mal late the aur surat n vyapari ko dhere dhere payment krte the... Jaise jaise hmari sale hoti thi...
      Par ab 45 din m kha s poora payment de payege... Hm to barbaad ho gye😢

    • @anandraj2452
      @anandraj2452 Před 6 měsíci

      ​@@ravishukla7573inko wo sb se kya lena dena inko to sirf bjp ko support karna hai bas.

    • @neel7111
      @neel7111 Před 6 měsíci +1

      I'm sure you're not businessman.​@@shashankMittal

    • @vishalloomba3571
      @vishalloomba3571 Před 6 měsíci

      Businessman is very happy... Their capacity to make material will grow so...

  • @shreyanshjain7673
    @shreyanshjain7673 Před 6 měsíci

    Applicability of section 43b(h) on Agency commission provision as on 31/3/24 and payment is to made to agent when sale ammount recieved by seller i.e after 31/3/24

  • @sanalyasir8118
    @sanalyasir8118 Před 7 měsíci +1

    VERY VERY NICELY EXPLAINED GOOD WORK KEEP IT UP

  • @sriramraksha9789
    @sriramraksha9789 Před 5 měsíci

    Excellent Madam, Thanks alot it's Very much helpfull

  • @abhinchhabra
    @abhinchhabra Před 4 měsíci

    Why is invoice date considered for adding 45 days ? Shouldnt it be goods receipt date !

  • @ArunSingh-wl8ml
    @ArunSingh-wl8ml Před 7 měsíci +2

    Thanks mam, Hume update rakhne ke liye😊😊

  • @sureshfale7248
    @sureshfale7248 Před 7 měsíci +1

    Thanks ma'am very good explanation given

  • @mohanpatel8155
    @mohanpatel8155 Před 6 měsíci

    Formate of agreement for 45 credit days under 343B[H]

  • @ashutoshbrahminofficial1052
    @ashutoshbrahminofficial1052 Před 5 měsíci

    Bahut hi achha se clear ho gya ma'am

  • @vijaymeka8393
    @vijaymeka8393 Před 6 měsíci

    क्रेडिटर का पेमेंट 45-90 डेज में अगर पेमेंट करते है तो उस परचेस को इनकम में एड कर दिया जाएगा
    वैसेही डेब्टर्स हमारा पेमेंट 45-90 डेज में करता है तो उसे भी एक्सपेंसेस में एड करना चाहिए ।

  • @rajendrakanade1066
    @rajendrakanade1066 Před 5 měsíci

    धन्यवाद,Mam

  • @Aky303
    @Aky303 Před 5 měsíci

    Thank you Ma'am for guidance 😊

  • @rahulbapna1628
    @rahulbapna1628 Před 5 měsíci

    If supplier's turnover is 10 cr, but if he is not registered in MSME ACT than also the act will be applicable

  • @sainimanveer0558
    @sainimanveer0558 Před 6 měsíci

    Thanks ma'am, your all videos are useful for me .

  • @vijaykumarjain3222
    @vijaykumarjain3222 Před 7 měsíci

    Nice video mam ,it's really helpful and knowledgeable

  • @nitheeshgowdad2912
    @nitheeshgowdad2912 Před 6 měsíci +1

    Medam please prepare co operative society Accounts finalization video

  • @vijayjaria9721
    @vijayjaria9721 Před 6 měsíci

    Thank you For importent information.

  • @mohdmasi9722
    @mohdmasi9722 Před 6 měsíci

    Very informative video, thanks mam

  • @Ravi-em2wd
    @Ravi-em2wd Před 4 měsíci

    Cheque issued but deducted in bank next financial year

  • @sushilsharma694
    @sushilsharma694 Před 7 měsíci +2

    Thanks ma'am

  • @VijayKumarIndian-009
    @VijayKumarIndian-009 Před 7 měsíci +3

    🙏 नमस्ते मैडम आपके पेज पर कोई फॉर्मेट है एग्रीमेंट का है तो कृपा करके मुझे बता दे और क्लाइंट कैसे पेमेंट न होने पर कैसे अपने पैसे निकाल सकता है दूसरे क्लाइंट से।

  • @caprashantkhandelwal558
    @caprashantkhandelwal558 Před 6 měsíci

    Very Nicely explained

  • @sachindimble3536
    @sachindimble3536 Před 6 měsíci

    God blessed india

  • @himanshuk6199
    @himanshuk6199 Před 5 měsíci

    Ever since this rule was announced my orders are getting canceled and are moving to big companies. I do not understand weather this rule is for betterment or bitterment of MSME??

  • @sainilokesh618
    @sainilokesh618 Před 7 měsíci +2

    Ma'am thank you so much for the information. Please tell us about medium enterprises

  • @anjalikolte257
    @anjalikolte257 Před 7 měsíci +2

    Is it applicable only in the audit case?

  • @surindernarang1216
    @surindernarang1216 Před 7 měsíci +1

    Thanks for simple

  • @vinayraj1129
    @vinayraj1129 Před 6 měsíci

    Very informative video thanks

  • @AmitGupta-sg5tg
    @AmitGupta-sg5tg Před 6 měsíci

    Thanks informative video 🙏

  • @Kpankaj1307
    @Kpankaj1307 Před 6 měsíci +1

    Ma'am... Debtors ke liye kya rules ??

  • @akshaywagh3154
    @akshaywagh3154 Před 6 měsíci

    Thank you so much Ma'am 🙏

  • @nitishkaushik1918
    @nitishkaushik1918 Před 5 měsíci +1

    Ma'am ye law to 01-4-24 se applicable hai na to March closing se kya matlab

  • @himadrisubhradas
    @himadrisubhradas Před 6 měsíci

    nice and easy description

  • @ghylrush5783
    @ghylrush5783 Před 6 měsíci +1

    Madam har din ek ek naya section aata hey kinta study koru Kam Jada ho gaya lekhin party ki fees increase Nehi hua

  • @babaloochauhan404
    @babaloochauhan404 Před 6 měsíci

    bahut babut dhanyavad

  • @ashokchandchajed3958
    @ashokchandchajed3958 Před 6 měsíci

    Well explained.Thank u

  • @ShriRangNatural
    @ShriRangNatural Před 6 měsíci

    Very nice perfect information thanks 🙏

  • @fintaxshorts
    @fintaxshorts Před 6 měsíci +1

    Loved the explanation and examples!

  • @rahuldas5969
    @rahuldas5969 Před 6 měsíci

    Thank you very much

  • @vikaskausik7240
    @vikaskausik7240 Před 6 měsíci

    Thanks Madam g 🙏🙏

  • @neel7111
    @neel7111 Před 6 měsíci

    Is verbal agreement valid ? For example verbal agreement for payment is 30 days.

  • @jeffpereira4200
    @jeffpereira4200 Před 7 měsíci

    Very clear Mam🤗

  • @chawdemramprasad9236
    @chawdemramprasad9236 Před 6 měsíci

    Thank you🙏

  • @PunjabiNavigator
    @PunjabiNavigator Před 6 měsíci +1

    Traders ismein aa gaya ke nhi. Kuonki. Enterprise ki definition kuch aur hai. So plz clarify traders se purchase ka kya.
    Section 2 clause e . Only manufacturer coming or traders bhi

    • @CAyashpanjwaniji
      @CAyashpanjwaniji Před 6 měsíci +1

      Traders msme main register hosakte h but koi benefit nhi milega isliye traders se purchase per applicable nhi hona chahiye only small or micro enterprise bhale wo msme m ho ya nhi

  • @kulbishtvlogs
    @kulbishtvlogs Před 6 měsíci

    Thank you Ma’m

  • @ibrahimkhan-sd7kt
    @ibrahimkhan-sd7kt Před 6 měsíci

    What is the procedure for claiming amount & complaining to RBI ??. Please clarify

  • @deepaknegi3328
    @deepaknegi3328 Před 7 měsíci

    ❤❤❤thanks for the very good update mam ❤❤❤

  • @STOCKSTIME-hl1nw
    @STOCKSTIME-hl1nw Před 5 měsíci

    very nice

  • @prosenjitsil7484
    @prosenjitsil7484 Před 7 měsíci +1

    Mam any update regarding GST for including all bank account details in portal

  • @anjalijain4626
    @anjalijain4626 Před 6 měsíci

    Ma'am useful information thanx..but what can seller action if buyer not pay ontime

  • @user-ye4oh7pr8g
    @user-ye4oh7pr8g Před 7 měsíci +1

    Society hone per bhi 43 applicable hoga

  • @vivekverma5286
    @vivekverma5286 Před 6 měsíci

    Chhote Businessman marega. Specially government contractors.

  • @agrwalpankaj
    @agrwalpankaj Před 6 měsíci

    Madam, if sum payable is not beyond the time limit as on 31-March 2024, it will be deductible in FY 2023-24 only as per normal provisions.

  • @mahendarreddy9862
    @mahendarreddy9862 Před 7 měsíci

    Thank you madem ji

  • @kinjalsurve6769
    @kinjalsurve6769 Před 6 měsíci

    do you mean that the credit period allowed on tax invoice is that we call agreement???

  • @VijayPatil-vg1zd
    @VijayPatil-vg1zd Před 7 měsíci

    Ex
    Please solve below case
    On 31St March 2024 made provision for service received from MSME Service provider.
    Tax invoice received on 1St June 2024
    Payment made on 1St June 2024
    IT return filed on 31St July 2024
    In which FY disallowance will take place

    • @CAyashpanjwaniji
      @CAyashpanjwaniji Před 7 měsíci

      Jis year payment kroge us year m allow hoga bus 31st March k pehle man lo krloge to 31st March Tak sare purchase allow ho jayenge per agar 31st March k baad us year ka kroge to 31st March Tak allow hi nhi hoga us pure year m

  • @shownmj
    @shownmj Před 6 měsíci +1

    If purchase from traders is included in MSME... Or only include the manufacturers and services sector..

  • @user-og3sm8lj9b
    @user-og3sm8lj9b Před 6 měsíci

    But is it compulsary to auditer or CA to disallow

  • @vikaskamble5487
    @vikaskamble5487 Před 7 měsíci

    Thanks Madam

  • @ashokkatarmal5161
    @ashokkatarmal5161 Před 5 měsíci

    What if I had purchased on 01-05-23 and paid on 30-09-23 does this attract interest , if there is op. balance 1,00,000 /- what will be the basic for interest ? (as there are all giving example from 01-01-24, not before it)

  • @user-nu8vi3tf6k
    @user-nu8vi3tf6k Před 6 měsíci +1

    If im not wrong, i understand that, if myself is registered under medium scale then also i have to make payments to all my small and micro suppliers before 15 days if no agreement or within 45 days if agreement
    ... pls confirm

  • @kannojiaravi121
    @kannojiaravi121 Před 6 měsíci +1

    Sir hamara debtor agar timely payment nh kar h aur wo interest bhi nh de rh h to msme me kaha complaint kar skte h ya fir kya option h aise cases me

  • @sandipbubunmaji178
    @sandipbubunmaji178 Před 2 měsíci

    Suppose i have msme certificate. Now i have given a bill of certain amount to someone. Now he have to pay me that bill amount within 45 days ... Other wise that will be considered as that person's income or my income? And how will it be decided that 45 days is over and this will be considered as someone's income? How will govt. Know this?

  • @kumarpillai8380
    @kumarpillai8380 Před 6 měsíci

    Explained very good but if suppose a creditors register recently after budget annoucment. Then what about his previous bills issued before his registration. What will be the position. Can u expalin

  • @neerajprasad4293
    @neerajprasad4293 Před 6 měsíci

    Those who supply in hospital and do not get payment on due date ?

  • @adityatraders681
    @adityatraders681 Před 6 měsíci

    Nice Explain

  • @palseva
    @palseva Před 7 měsíci +1

    is it applicable for presumptive business u/s 44AD, 44ADA and 44AE

  • @debiprasadpanda5807
    @debiprasadpanda5807 Před 6 měsíci +1

    Respected Madam, 45 days or 15 days will be calculated from invoice date or actual receipt of goods by the buyer ? Because Transit period in transport is there.

    • @ShoebHasan
      @ShoebHasan Před 6 měsíci

      Invoice date

    • @debiprasadpanda5807
      @debiprasadpanda5807 Před 6 měsíci +1

      ​@@ShoebHasan
      Dear Sir, then it is a loss to buyer, because if transportation takes more than 15 days then buyer will have to pay without receipt of goods. Again, if buyer makes invoice but actual delivery from the buyer end to transport will be late, it will also a loss to buyer.

    • @ShoebHasan
      @ShoebHasan Před 6 měsíci

      @@debiprasadpanda5807 yes

    • @ahead9645
      @ahead9645 Před 6 měsíci

      From the date of acceptance , clearly written in Section 15 which is date of delivery

  • @piyushmistry6779
    @piyushmistry6779 Před 6 měsíci

    Hi Thanks for the explanation on 43bh -- Have one query -- While verifying the udyam registration on the portal, the classification shown for FY 21-22 and 22-23 and not shown for 23-24, so still the registration is valid?

  • @user-ni2pk7zr1q
    @user-ni2pk7zr1q Před 7 měsíci

    Pooja ji - can you check date mentioned in example no. 3 and 15.

  • @karangupta8250
    @karangupta8250 Před 5 měsíci

    Is it applicable on non taxable purchase or not ?

  • @amit1329
    @amit1329 Před 6 měsíci

    Mam
    Taxable amount charge will be on rs - 150000 ?

  • @amanjotsingh768
    @amanjotsingh768 Před 6 měsíci

    We take advances 3 months before billing designer fabrics.
    How will than these ADVANCES BEFORE CARRIED FORWARD TO NEXT FINANCIAL YEAR '2025

  • @ramanavenkata9305
    @ramanavenkata9305 Před 6 měsíci

    Very good

  • @kumarnaresh2139
    @kumarnaresh2139 Před 6 měsíci

    Suppose that party if payment nahi karega if returns kr dega to es criteria me hme kya Krna chahiye taki return nahi kre

  • @harshmehta7932
    @harshmehta7932 Před 5 měsíci

    Mam what about old outstanding before 1st april 2023 ? Do we have to clear that first ? It is based on fifo or what, or do injust clear current year outstanding?

  • @aamiransari9139
    @aamiransari9139 Před 6 měsíci

    Jinka audit nhi hota un par. Bhi applicable hai kya??

  • @cahardikpatel7647
    @cahardikpatel7647 Před 6 měsíci

    GD NOON MADAM , Do YOU have an idea of SC hearing of Supreme Court notice on Mrityunjay Kumar’s challenge to CGST Act Section 16(4) WHICH WAS TO BE HEARD ON 5-2-2024 ? ANY UPDATE ON THAT ? . WHETHER IT WAS DECESION IN FAVOUR OF TAX PAYER OR AGAINST TAX PAYER ?

  • @anandrathod9180
    @anandrathod9180 Před 5 měsíci

    I am MSME registered, I m exporter, what if not received remittance within 45 days. What happen now?

  • @pravinvyas5218
    @pravinvyas5218 Před 7 měsíci

    thanks

  • @rohanhebbare8164
    @rohanhebbare8164 Před 6 měsíci +1

    I'll cancel my gst and I'll do some job.

    • @axzzie
      @axzzie Před 6 měsíci

      Yes you should, if you cant take the heat then get out of the kitchen

  • @parthhirani1998
    @parthhirani1998 Před 5 měsíci

    MADAM DUE DATE KE BAAD PAYMENT KAREGE TO INTEREST KA RATE KYA HE OR KISKO INTEREST PAY KERNA PADEGA

  • @AshishKumar-sp5rx
    @AshishKumar-sp5rx Před 7 měsíci +2

    mam is applicable only mfg. service not trading concern

    • @CAyashpanjwaniji
      @CAyashpanjwaniji Před 6 měsíci

      Practical sabhi manlo otherwise kuch bhi ho sakta h end m

  • @Nitesh4123
    @Nitesh4123 Před 6 měsíci

    Whst if payment is to be received from an individual to whom audit is not applicable. Will this apply ?

  • @sanjeevdiwan5487
    @sanjeevdiwan5487 Před 6 měsíci

    I am pharma whole saler and my suppliers are multiple Companies
    I am not registered in msme
    Now I want to confirm article 43 bh is aplicable on or not

  • @kamtagautam9375
    @kamtagautam9375 Před 5 měsíci

    Mam 1/4/23 se Jo purchases hai sirf unka hi payment 31/3/24 tak karna hai ya purane outstanding ka bhi payment 31/3/24 tak karna hai ?

  • @nikhilparekh9013
    @nikhilparekh9013 Před 6 měsíci

    How to know the creditor is trader or manufacturer?