Form MSME-1

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Form MSME-1

What is Form MSME-1?

The MSME Form 1 is used to submit a return to the Registrar of Companies regarding unpaid invoices to micro and small businesses. In other words, businesses that acquire services or items from micro or small businesses are required to file a half-yearly return on MSME Form I detailing payments not made to such companies.

The following is a step-by-step approach for filing MSME Form 1:

Step 1: Download the electronic Form

After downloading the form, indicate whether you are filing your first or half-yearly Return.

Step 2: Complete the CIN

After you've completed the previous step, input your Company's CIN and click the prefill button. Additionally, input the Company's Global Location Number and PAN Card Number.

Step 3: Enter Your Basic Information

The applicant is required to enter their basic information in this phase, which is detailed below:

  • The Company's name;
  • The Registered Office address; and
  • The Company's email address and other contact information.

    • Step 4: Initial Return Specifications

    The applicant is required to input information about the amount owed to the MSMEs, such as the following:

  • The entire Outstanding Amount as of the Notification Date;
  • The Financial Year;
  • The names of suppliers;
  • The supplier's PAN Card information;
  • The Outstanding Amount;

    • Step 5: Half-Yearly Return Specifications

    Half-yearly returns are often referred to as "Regular Returns." Additionally, the following details are required for this section:
    Outstanding Amount April through September and October through March

  • Financial Year Details ("From" and "To"),
  • Suppliers' Names,
  • Suppliers' PAN Card Numbers,
  • The Outstanding Amount, and
  • The Particular Date from which the Amount is Outstanding.

    • Step 6: Correct any inaccuracies

    Once you click the prefill button, all of your Company's information will be filled in automatically. However, you can alter your Company's email address if it changes.

    Step 7: Enter the payment amount that is due.

    Then you must enter the amount owed to micro or small businesses and finally submit it. 100% technology-driven platform that streamlines the company registration procedure and simplifies your life.
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    Requirements

    Minimum two directors
    Minimum two shareholders
    At least one director should be from India
    Maximum 200 shareholders

    Documents Required

    PAN CARD

    Need Pan Card of all Shareholders and Directors, Foreign Directors must be required a valid Passport with validated or apostilled

    PHOTOGRAPH

    Updated Passport size photos of all Participators / Shareholders and Directors.

    IDENTITY PROOF

    Need identity proof: - Aadhar Card/ Voter ID/Passport/ Driving License of all Shareholders and Directors.

    ADDRESS PROOF

    Updated Electricity Bill/ Telephone Bill / Bank Account Statement of all Shareholders & Directors.

    FOR REGISTERED OFFICE

    Rent agreement

    Valid Rent agreement, Utility bills:- telephone bill, electricity bill, and municipal (It should be last 2 Months) NOC From Owner.

    NOC From Owner.

    Post Company Registration Requirements?

    Once the Company registration is completed, you have to take the necessary steps in order to make a strong presence in the industry.

    Mandatory Compliances

    GST Registration

    Trademark/Patent Registration

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