https://help.tallysolutions.com/docs/te9rel65/Tax_India/form_msme-1.htm

Filling Form MSME-1 Using Tally.ERP 9

The companies registered with Ministry of Corporate Affairs are now required to file details of outstanding payments to Micro, Small, and Medium Enterprises (MSME) using Form MSME-1. All payments that are pending for 45 days or more from the date of acceptance or date of deemed acceptance of goods are reported in it. This form has to be submitted on half yearly basis, before 31st Oct for the period Apr – Sep and by 30th of Apr for the period Oct-Mar, with the following details:

1. Amount of payment due, and

2. The reasons for the delay.

In addition, the details of outstanding dues to micro and small enterprises existing on the date of notification of this order (22nd Jan 2019), should be reported within 30 days of deployment of the form on ministries portal. This is a one-time process.

With Tally.ERP 9, business registered with MCA can easily get the details of all bills outstanding for more than 45 days to help them file Form MSME-1.

Tally.ERP 9 gives you all the details starting from the outstanding amount, pending day, bill date, and so on, to fill Form MSME-1. It is the responsibility of the company to identify MSMEs from your diverse list of suppliers. One way to identify registered MSMEs is through their invoices, all registered MSMEs print their MSME registration number on the invoice.

To fill the details in Form MSME-1

1. Login to the MCA portal and download Form MSME-1 along with the help file with instructions to fill the form.

2. Open the downloaded .pdf file.

Field Name

Description

Form Language

Displays the languages in which the form can be filled, English or Hindi . You can select the required language. English is selected by default.

Initial return

Displays the type of return. Select this option to file the initial returns for reporting the outstandings as on the date of notification of the order.

Regular half yearly return

Displays the type of return. Select this option to file half yearly returns for the period Apr-Sep or Oct-Mar .

Period

Displays the half yearly period for which the returns is filed. This field is enabled when Regular half yearly return is chosen. You can select the options April to September or October to March depending on the period for which returns is filed.

1. (a) Corporate Identity Number (CIN) of company

Displays the company’s corporate identity number.

Pre-fill

Click Pre-fill after entering the CIN to fill the details such as Name of the Company , address and email id of the company from the MCA database.

(b) Global location number (GLN) of company

Displays the Global Location Number of the company. This information is not prefilled and is entered manually.

(c) Permanent Account Number (PAN) of company

Displays the PAN of the company. This information is not prefilled and is entered manually.

2(a) Name of the Company

Displays the name of the company. In case it is not prefilled, enter your company name.

(b) Address of the registered Office of the company

Displays the address of the company. In case it is not prefilled, enter the address of your company.

(c) Email id of the company

Displays the email id of company registered with the MCA. In case it is not prefilled, enter the email address of your company or the employee responsible for filing the returns.

2. Initial return of outstanding dues to Micro or Small Enterprises Suppliers.

Displays the details of outstanding bills from MSME’s in separate rows. This section is displayed only when the option Initial return is selected at the beginning of the form.

To get the values for this section

1. Go to Gateway of Tally > Display > Statements of Accounts > Outstandings > Group > Sundry Creditor .

2. In the Group Outstanding report, click F7 : Bill-Party wise to give bill-wise break-up of outstanding value for each party.

3. Click F2: Period to change the reporting period

4. In the Change Period screen, leave the From field blank and enter the date of notification of Form MSME-1 in the To field. This will show all the overdue bills as on the date entered in the To period.

5. Press Enter to go back to the report.

6. Click F1 : Detailed . The report will now show the details of all the bills pending for each party.

(a) Total outstanding amount due as on date of notification of this order

Displays the total outstanding amount due to MSME’s on the date of the notification order on form MSME-1. Enter the sum of the amounts shown in the Pending Amount column of Group Outstanding report.

(b) Particulars of the name of suppliers and amount of payments due

Number of entries

Displays the number of invoices for which payment was pending to MSME’s as on date of notification. Count the number of invoices in the Group Outstanding report displayed and enter the same. Once you enter a number, equivalent rows are added to the table below to capture the details of each invoice. Enter the details of each invoice in separate line. In the party bill-wise view of the report all bills pending to a party are grouped and shown below the party name. You can record the details in the same order.

Financial Year From

Displays the year in which the pending bill was recorded.

Financial Year To

Displays the year till which the bill is pending.

Name of Supplier

Displays the name of the supplier of the invoice pending for payment on the day of the notification. Enter the name of the supplier of the invoice in the Group Outstanding report.

PAN of Supplier

Displays the PAN of the supplier. Enter the PAN of the party specified in the Name of Supplier column. You can get the PAN details of the supplier in the ledger master of the party.

Amount Due

Displays the amount due from the invoice. Enter the value displayed in Pending Amount column for the specified invoice in the Group Outstanding .

Specify the date from which amount is due

Displays the date on which the invoice was accepted. Enter the invoice date or the due on (if different from invoice date) on the invoice.

3. Regular half yearly return of outstanding dues to Micro or Small Enterprises Suppliers.

Displays the details of outstanding bills from MSME’s for the return period in separate rows. This section is displayed only when the option Regular half yearly return is selected at the beginning of the form.

To get the values for this section

1. Go to Gateway of Tally > Display > Statements of Accounts > Outstandings > Payables . The Bills Outstanding report is displayed as shown. The report shows the total pending amount for each creditor.

2. Click F7 : Bill-Party wise to give bill-wise break-up of outstanding value for each party.

3. To get the details of bills that have been pending for more than 45 days, click F6: Age wise .

4. Select the option Ageing by Bill Date as the method of ageing in the Ageing Analysis screen.

5. In the Company Ageing Alteration screen, set the ageing trend as shown.

6. In the first row, 0 and 45 for From and To. In the next row, set 45 for From and leave the To field blank. This will group all bills that are 0-45 days old and bills more than 45 days old separately.

7. Press Enter to go back to the report.

8. The (>45 days) column displays amount pending for more than 45 days for respective bills. You can select bills of MSME’s with amount outstanding for more than 45 days and enter information in Form MSME-1.

(a) Total outstanding amount

Displays the total outstanding amount to MSME’s pending for more than 45 days in the reporting period. Enter the sum of the amounts shown in the (> 45 days) column of Bills Outstanding report.

(b) Particulars of the name of suppliers and amount of payments due

Number of entries

Displays the number of invoices for which payment was pending for more than 45 days in the reporting period. Count the number of invoices in the Bills Outstanding report generated and enter the same. Once you enter a number, same number of rows are added to the table below to capture the details of each invoice. Enter the details of each invoice in separate line. In the party bill-wise view of the report all bills pending to a party are grouped and shown below the party name. You can record the details in the same order.

Financial Year From

Displays the beginning of the financial year of the reporting period.

Financial Year To

Displays the end of the financial year of the reporting period.

Name of Supplier

Displays the name of the supplier of the invoice for which payment is pending for 45 days or more. Enter the name of the supplier of the invoice in the Bills Outstanding report.

PAN of Supplier

Displays the PAN of the supplier. Enter the PAN of the party specified in the Name of Supplier column. You can get the PAN details of the supplier in the ledger master of the party.

Amount Due

Displays the amount due from the invoice. Enter the value displayed in (>45 days) column for the specified invoice in the Bills Outstanding report.

Specify the date from which amount is due

Displays the date on which the invoice was accepted. Enter the invoice date or the due on date (if different from invoice date) of the invoice.

4. Reasons for Delay in amount of payments due

Displays the reason given for the delay in the payment to MSME’s. Enter the reason for the delayed payment.

Attachments:

1. Optional Attachments, (if any)

You can also attach a document to show the reasons for delay in payment to MSME’s.

Attach

Click to attach the document with reasons for delay.

Remove attachment

Click to remove any attached document.

Directory or manager or secretary or CEO or CFO

Displays the digital signature of the director or manager or secretary.

Designation

Displays the designation of the person attaching the digital signature. Select the designation from the list provided.

DIN of director, or PAN of the manager of CEO or CFO; or membership number of the company secretary

Displays the DIN of director or PAN of manager. Enter the details in the provided area.

Modify

Click to modify the recorded details. This button is enabled only after you have checked the form using Check Form option.

Check Form

Click to check the details entered in the form. System displays an error message when mandatory information is missing, or data entered is incorrect. You can correct and re-check the form. On successful completion of validation, you can save the pdf.

Prescrutiny

This button is disabled.

Submit

This button is disabled.

3. Once you have entered all the details in the form and completed the validation successfully, the filled form must be sent to your chartered accountant for filing the returns. The chartered accountant in charge of your auditing can log-in to MCA portal and submit Form MSME-1 on the behalf of your company.