Penalty for delay in Filing Form MSME-1
Penalty for delay in Filing Form MSME-1 As per Section 405(4) If any company fails to comply with the requirement of filing Form MSME-1, the company …
CA Deepak Gupta
Apr 30, 2021Table of Contents
Penalty for delay in Filing Form MSME-1
As per Section 405(4)
- If any company fails to comply with the requirement of filing Form MSME-1, the company and every officer of the company who is in default shall be liable to a penalty of twenty thousand rupees
- and in case of continuing failure, with a further penalty of one thousand rupees for each day after the first during which such failure continues, subject to a maximum of three lakh rupees.
That means in the case of Non-filing of Form MSME-1:
- The penalty of twenty thousand rupees &
- a further penalty of one thousand rupees for each day
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CA Deepak Gupta
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CA Deepak Gupta,is Co-founder of Studycafe. He is Microsoft Office Specialist and Corporate Trainer of AI Tools, Microsoft Excel.
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