Alert on MSME payments 43B(h) -Income Tax – last few days left

Alert on MSME payments 43B(h) -Income Tax – last few days left

Alert on MSME payments 43B(h) -Income Tax – last few days left

Last few days left.. Be Alert … Some ideas and Tips in MSME 43B(h) -Income Tax

dated 21st-March-2024 : 9 am

  1. Try to pay all MSME vendors bills of 28-2-2024, by 28th March 2024….. (Just to be safe)…
  2. See this yourself.
  3. Nobody can save your company from accidental tax later

  4. This is a benefit Govt is giving to MSME’s and if you are a MSME take this benefit from your customers….
  5. Almost 4 Crores MSME are already registered and are claiming this benefit… are you taking this Benefit ???
  6. Next, try to pay MSME invoices of March 2024 by 30th April 2024, or max by 14th May 2024….. Dont forget…else… again big loss of tax possible

  7. Have you made your Financial Budget to pay all eligible MSME vendor’s : Arrange Funds as soon as possible. Keep Buffer for new creditors, new invoices of this period.
  8. Sent letters to all creditors ? Kept evidence ? Two rounds of emails is a must evidence.

  9. Do you have letters or MOU with each MSME vendor, … with overriding clause for 45 days, irrespective of the PO’s and Invoices. ( get the format in the Google drive link below )
  10. Reduce your advance tax ? Pay MSME in Advance. …. yes possible ( most likely.) But conditions apply. Risk involved. But likely due to a past Supreme Court Judgement
  11. turnover sales
  12. Sales Idea.. if you have power to do more sales, and have sufficient funds : Deregister in MSMED Act…. give affidavit to your Potential Customers… “Get More Sales” and “Get more Margin”

  13. Non Registered MSME Vendors ….? The Udhyam Adhar is compulsory. No need to see the Balance Sheet, or take a CA Certificate. Not relevant and not required.
  14. Past or Future ? Future bills only ( old bills prior to 1-4-2023 are not in problem in this section.. they are problem in section 41 .. with bigger consequences

  15. Three year MSME category Rule notification dt 18-10-2022.. Change of category upwards… you can take the benefit of previous classification for three long years. Yes you can. ( see notification in the Google drive link below )

  1. Cheque Hand over   ( Cheque in Transit ?)……….? This idea can work only if you have 100% clear balance in your bank account… Else… It will not be acceptable

  2. Towards a New INDIA
  3. Faster business cycles.

  4. Money is coming automatically to most MSME’s .. every day… Congratulations.
  5. Hope the PSU’s also start paying in the same way. The PSU chief will be shocked with huge tax if he does not organise the payments to all the MSME vendors in time… this will create a new culture.


Ideas, Tips, things to take care of… MSME act related 43B(h) income tax topic . Good ideas you can work around with and make more money.

Google Drive link for the Powerpoint presentation of the Session by Mr Sangeet Kr Gupta. in the last Zoom seminar



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