https://www.taxtmi.com/article/detailed?id=9253 Buyers must pay suppliers by the agreed date or within the statutory maximum; failure to pay attracts compound interest with monthly rests from the appointed day at a notified multiple of the bank rate. Suppliers may refer disputed amounts to the Micro and Small Enterprises Facilitation Council which will conduct conciliation or refer to an alternate dispute resolution centre and, where conciliation fails, proceed to arbitration under the Arbitration and Conciliation Act, 1996; references are to be decided within the prescribed period. en-us Wed, 10 Jun 2020 09:46:14 +0530 Wed, 10 Jun 2020 09:46:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9253 Buyers must pay suppliers by the agreed date or within the statutory maximum; failure to pay attracts compound interest with monthly rests from the appointed day at a notified multiple of the bank rate. Suppliers may refer disputed amounts to the Micro and Small Enterprises Facilitation Council which will conduct conciliation or refer to an alternate dispute resolution centre and, where conciliation fails, proceed to arbitration under the Arbitration and Conciliation Act, 1996; references are to be decided within the prescribed period. Articles Other Topics Wed, 10 Jun 2020 09:46:14 +0530 https://www.taxtmi.com/article/detailed?id=9253