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 All About The Filing of e-Form MSME FORM I “Form for furnishing half yearly return with the registrar in respect of outstanding payments to Micro or Small Enterprises.” The appropriate section of the Companies Act, 2013 The e-Form MSME I is needed to be furnished beneath the Order dated 22 January 2019 issued under Section 405 of the Companies Act, 2013. Purpose of Form MSME I This form informs the ROC regarding the default in the payment by Companies to their MSME (Micro and small) vendors. Applicability: Every company that completes the below-stated process is needed to furnish an e-form MSME-1 . The company secures MSME-registered vendors. The company do the late payment to these MSME vendors exceeding 45 days from the acceptance date of goods or services in the half-year mentioning the below facts: The amount of payment due. The cause of the late payment. Applicable Due Date of The From- Duration Due Date Outstanding MSME Transactions for the half-year ending April to September

Under GST when the dealer wants to choose the composition scheme, they need to intimate the government for this. The same would be done through furnishing the Form GST CMP-01 or Form GST CMP-02. CMP-01 is the form which is to be furnished via migrated assessee who are urged to choose for the composition scheme. The due date for the same was August 1, 2017 (1 month from July 2017). The assessee who likes to choose the composition scheme for the fiscal year or in the middle of the fiscal year needs to tell the government about their preference. The same would be performed via furnishing the GST CMP-02 when the CMP-02 has been furnished in the middle of the fiscal year, the law of the scheme is subjected to apply from the month after the succeeding the month where CMP-02 has been furnished.  For instance, the assessee furnishes the CMP-02 in the month of December 2017, and it pointed out that the compliance of the composition scheme would be subjected to apply from January 2018. Both CMP

One should not think of furnishing the ITR when your income comes beneath the tax slab. It is called nil income tax. A form where the assessee shows their income is called an Income tax return (ITR). There are various causes why an assessee should furnish an ITR, the main cause being claiming the tax deductions. While from the individual assessee, even the firms, proprietorships, and Limited Liability Partnerships are needed to furnish the nil income tax returns when there are no profits or business activities. In the latest tax regime, the person would avail of deduction beneath the income tax section 80CCD(2). The deduction would be availed when the employer contributes 10% of the basic salary to the Tier-I NPS account of the employee. What Do You Mean by The Nil Income Tax Return A nil ITR is furnished by the person whose taxable income comes below the income tax slab and does not need to furnish any taxes. It is essential to furnish the ITR irrespective of low/nil income. Advanta