Disclosure of outstanding dues to micro and small enterprises now required; balance-sheet notes must itemise principal, interest and further payable interest. Revision to Schedule VI mandates balance-sheet note disclosures of amounts due to micro and small enterprises: principal and interest unpaid at year-end; interest paid under section 16 and payments made beyond the appointed day; interest due for delay on payments made beyond the appointed day (excluding statutory MSMED interest); interest accrued and unpaid at year-end; and further interest remaining payable for disallowance under section 23. It also requires separate current liability line items for dues to micro and small enterprises and for other creditors, and adopts MSMED Act definitions for key terms.
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Disclosure of outstanding dues to micro and small enterprises now required; balance-sheet notes must itemise principal, interest and further payable interest.
Revision to Schedule VI mandates balance-sheet note disclosures of amounts due to micro and small enterprises: principal and interest unpaid at year-end; interest paid under section 16 and payments made beyond the appointed day; interest due for delay on payments made beyond the appointed day (excluding statutory MSMED interest); interest accrued and unpaid at year-end; and further interest remaining payable for disallowance under section 23. It also requires separate current liability line items for dues to micro and small enterprises and for other creditors, and adopts MSMED Act definitions for key terms.
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