The Ministry of Micro, Small, and Medium Enterprises (MSMEs) on July 24, 2023, issued a press release regarding the Schemes to Clear Delayed Payment in MSMEs
The following has been stated namely: -
• It states that Micro & Small Enterprises Facilitation Councils (MSEFCs) have been set up in the States/UTs to deal with cases of delayed payments of the Micro and Small Enterprises (MSEs).
• The Ministry of MSME launched a portal viz. Samadhaan Portal (https://samadhaan.msme.gov.in/MyMsme/MSEFC/MSEFC_Welcome.aspx) for filing grievances & for monitoring the outstanding dues to the Micro & Small Enterprises (MSEs) from the buyers of goods and services
• The Ministry of MSME has requested States/UTs to set up more number of MSEFCs for quicker disposal of cases related to delayed payments.
• It has created a special sub-portal within Samadhaan Portal after the AatmaNirbhar Bharat announcements, for reporting the dues and monthly payments by Central Ministries/Department/Public Sector Enterprises to MSMEs.
• It states that the Government has also instructed CPSEs and all companies with a turnover of Rs. 500 Crore or more to get themselves on-boarded on the Trade Receivables Discounting System (TReDS), an electronic platform for facilitating the discounting of trade receivables of MSMEs through multiple financiers.
• It further states that the Companies that get supplies of goods or services from Micro & Small Enterprises and whose payment to Micro and Small Enterprises exceeds 45 days from the date of acceptance or the date of deemed acceptance of the goods or services, also need to submit a half yearly return to the Ministry of Corporate Affairs stating the amount of payments due and the reasons of the delay.
[Press Release ID 1942085]
