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GOVERNMENT OF INDIAMinistry of Corporate Affairs

NotificationNew Delhi the 16th November, 2007

GSR 719(E).- In eer!i"e o# the $ower" !on#erre% b& "'b("e!tion )1* o# "e!tion 6+1o# the om$-nie" A!t, 1./6 )1 o# 1./6*, the entr-l Government hereb& m-e" the#ollowin #'rther alterations in Schedle !" to the "-i% A!t, n-mel&(13 In the "-i% 4!he%'le, in 5-rt I Form o# 8-l-n!e(4heet, 'n%er he-%in ( A39ori:ont-l Form;, ()1* in the #ir"t !ol'mn rel-tin to 5In"tr'!tion" in -!!or%-n!e with whi!h <i-bilitie""ho'l% be m-%e o't;, #or the "e!on% $-r-r-$h -$$e-rin --in"t the "'b(he-%in5=RRENT <IA8I<ITIE4 AND ROVI4ION4;, o!!'rrin in the "e!on% !ol'mn, the#ollowin $-r-r-$h "h-ll be "'b"tit'te%, n-mel& (5The #ollowin "h-ll be %i"!lo"e% 'n%er note" to the -!!o'nt"(

)-* the $rin!i$-l -mo'nt -n% the intere"t %'e thereon )to be "hown "e$-r-tel&*rem-inin 'n$-i% to -n& "'$$lier -" -t the en% o# e-!h -!!o'ntin &e-r>

)b* the -mo'nt o# intere"t $-i% b& the b'&er in term" o# "e!tion 16 o# theMi!ro, 4m-ll -n% Me%i'm Enter$ri"e" Develo$ment A!t, 2006, -lon withthe -mo'nt o# the $-&ment m-%e to the "'$$lier be&on% the -$$ointe%%-& %'rin e-!h -!!o'ntin &e-r>

)!* the -mo'nt o# intere"t %'e -n% $-&-ble #or the $erio% o# %el-& in m-in$-&ment )whi!h h-ve been $-i% b't be&on% the -$$ointe% %-& %'rin the

&e-r* b't witho't -%%in the intere"t "$e!i#ie% 'n%er the Mi!ro, 4m-ll -n%Me%i'm Enter$ri"e" Develo$ment A!t, 2006>

)%* the -mo'nt o# intere"t -!!r'e% -n% rem-inin 'n$-i% -t the en% o# e-!h-!!o'ntin &e-r> -n%

)e* the -mo'nt o# #'rther intere"t rem-inin %'e -n% $-&-ble even in the"'!!ee%in &e-r", 'ntil "'!h %-te when the intere"t %'e" -" -bove -re-!t'-ll& $-i% to the "m-ll enter$ri"e, #or the $'r$o"e o# %i"-llow-n!e -" -%e%'!tible e$en%it're 'n%er "e!tion 2? o# the Mi!ro, 4m-ll -n% Me%i'm

Enter$ri"e" Develo$ment A!t, 20063

)2* in the "e!on% !ol'mn, rel-tin to 5<i-bilitie";, 'n%er the he-%in 5!'rrentli-bilitie" -n% $rovi"ion";, -#ter item )2*, the #ollowin "'b(item" "h-ll be "'b"tit'te%,n-mel&(

)-* tot-l o't"t-n%in %'e" o# mi!ro enter$ri"e" -n% "m-ll enter$ri"e"> -n%

)b* tot-l o't"t-n%in %'e" o# !re%itor" other th-n mi!ro enter$ri"e" -n%"m-ll enter$ri"e"3

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#or E$a%ple& 'isclosres shold e as follos& (Not the part of notification)

Item No. Disclosures required under the Micro, Small & Medium

Development Act, 2006I Delayed payments due as at the end of each accounting year on

account of Principal - Rs. XXX and Interest due thereon - Rs.

XXX

II Total interest paid on all delayed payments during the year

under the provisions of the Act - Rs. XXX

III Interest due on principal amounts paid beyond the due date

during the year but without the interest amounts under this Act

- Rs XXX

I! Interest accrued but not due" Rs XXX #Represents interest

accrued as at the end of the year but not due as interest is

computed at monthly rests from the due date$! Total Interest Due but not paid - Rs. XXX #Represents all

interest amounts remaining due together with that from prior

year#s$ until such date when the interest was actually paid to the

small enterprises. %ainly to ascertain the amount of interest

disallowable for income ta& purposes$