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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Aaaa😂a😂qZqz😂aq😂q😂qaaq😂pl
Ljj😊
Agreement kaise karna hain ?
धन्यवाद जी आपने हमारे मेसेज को घमभीरता से लिया और वेदियो बनाकर सरल भाषा मे समझाने का प्रयास किया।
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....
Thank you mam, your examples give complete clarity.
This explaintions is worth . We need such examples to understand this
Very well explained....Thank You so much ma'am!
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.
No answer she has
it is very useful madam we are thankful to you god blesss you
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.
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.
Kya problem h btaiye
Thanks brother you save my money
Kya ma'am isme 5 crore ke under bale business man. Bhi ayenge ?
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*
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.
Thankyou so much mam😊😊😊
Now big players will not buy any goods from Micro and Small businesses players, my god save india
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.
@@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😢
@@ravishukla7573inko wo sb se kya lena dena inko to sirf bjp ko support karna hai bas.
I'm sure you're not businessman.@@shashankMittal
Businessman is very happy... Their capacity to make material will grow so...
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
VERY VERY NICELY EXPLAINED GOOD WORK KEEP IT UP
Excellent Madam, Thanks alot it's Very much helpfull
Why is invoice date considered for adding 45 days ? Shouldnt it be goods receipt date !
Thanks mam, Hume update rakhne ke liye😊😊
Thanks ma'am very good explanation given
Formate of agreement for 45 credit days under 343B[H]
Bahut hi achha se clear ho gya ma'am
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 ।
धन्यवाद,Mam
Thank you Ma'am for guidance 😊
If supplier's turnover is 10 cr, but if he is not registered in MSME ACT than also the act will be applicable
Thanks ma'am, your all videos are useful for me .
Nice video mam ,it's really helpful and knowledgeable
Medam please prepare co operative society Accounts finalization video
Thank you For importent information.
Very informative video, thanks mam
Cheque issued but deducted in bank next financial year
Thanks ma'am
🙏 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।
Very Nicely explained
God blessed india
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??
Ma'am thank you so much for the information. Please tell us about medium enterprises
Medium isme cover nhi hote h
@@CAyashpanjwaniji Thank you so much for the reply 🙏
@@sainilokesh618 wlcm friend 🤞
Is it applicable only in the audit case?
Thanks for simple
Very informative video thanks
Thanks informative video 🙏
Ma'am... Debtors ke liye kya rules ??
Thank you so much Ma'am 🙏
Ma'am ye law to 01-4-24 se applicable hai na to March closing se kya matlab
nice and easy description
Madam har din ek ek naya section aata hey kinta study koru Kam Jada ho gaya lekhin party ki fees increase Nehi hua
bahut babut dhanyavad
Well explained.Thank u
Very nice perfect information thanks 🙏
Loved the explanation and examples!
Thank you very much
Thanks Madam g 🙏🙏
Is verbal agreement valid ? For example verbal agreement for payment is 30 days.
Very clear Mam🤗
Thank you🙏
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
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
Thank you Ma’m
What is the procedure for claiming amount & complaining to RBI ??. Please clarify
❤❤❤thanks for the very good update mam ❤❤❤
very nice
Mam any update regarding GST for including all bank account details in portal
Ma'am useful information thanx..but what can seller action if buyer not pay ontime
Society hone per bhi 43 applicable hoga
Chhote Businessman marega. Specially government contractors.
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.
Thank you madem ji
do you mean that the credit period allowed on tax invoice is that we call agreement???
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
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
If purchase from traders is included in MSME... Or only include the manufacturers and services sector..
Please reply
But is it compulsary to auditer or CA to disallow
Thanks Madam
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)
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
Kya msme certificate cancel kar skte h?
@@sheetalbisht-tr1hyha kar sakte hai
You are right sir
@@GooglelawThank you
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
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?
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
Those who supply in hospital and do not get payment on due date ?
Nice Explain
is it applicable for presumptive business u/s 44AD, 44ADA and 44AE
I think answer is noooooo 😅
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.
Invoice date
@@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.
@@debiprasadpanda5807 yes
From the date of acceptance , clearly written in Section 15 which is date of delivery
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?
Pooja ji - can you check date mentioned in example no. 3 and 15.
Is it applicable on non taxable purchase or not ?
Mam
Taxable amount charge will be on rs - 150000 ?
We take advances 3 months before billing designer fabrics.
How will than these ADVANCES BEFORE CARRIED FORWARD TO NEXT FINANCIAL YEAR '2025
Very good
Suppose that party if payment nahi karega if returns kr dega to es criteria me hme kya Krna chahiye taki return nahi kre
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?
Jinka audit nhi hota un par. Bhi applicable hai kya??
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 ?
I am MSME registered, I m exporter, what if not received remittance within 45 days. What happen now?
thanks
I'll cancel my gst and I'll do some job.
Yes you should, if you cant take the heat then get out of the kitchen
MADAM DUE DATE KE BAAD PAYMENT KAREGE TO INTEREST KA RATE KYA HE OR KISKO INTEREST PAY KERNA PADEGA
mam is applicable only mfg. service not trading concern
Practical sabhi manlo otherwise kuch bhi ho sakta h end m
Whst if payment is to be received from an individual to whom audit is not applicable. Will this apply ?
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
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 ?
How to know the creditor is trader or manufacturer?