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of <h1>Companies Act 2013: Amendments to Schedule III mandate detailed disclosures on trade payables to micro and small enterprises.</h1> The notification issued by the Ministry of Corporate Affairs, under the Companies Act, 2013, amends Schedule III related to the Balance Sheet. It specifies changes under 'Equity and Liabilities' to categorize trade payables into dues of micro and small enterprises and other creditors. Additionally, it mandates detailed disclosures in notes regarding trade payables to Micro, Small, and Medium Enterprises, including unpaid principal and interest, interest paid, and accrued interest. These changes aim to enhance transparency regarding payments to small enterprises. The notification becomes effective upon its publication in the Official Gazette.
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