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MSME payment (45-day rule)
Check whether a payment to a micro or small enterprise is late, the interest due, and the tax effect.
Finance & unit economicsHow it's worked out
- Limit = min(agreed days, 45). Interest = amount × ((1 + 3 × bank rate ÷ 12)^months late − 1)
- Supplier is a registered micro or small enterprise
NoteNot legal or tax advice.
Source: MSMED Act 2006 s.15-16; Income Tax Act 1961 s.43B(h)
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