Section 16 of MSMED : Section 16: Date From Which And Rate At Which Interest Is Payable
MSMED
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Explanation using Example
Imagine a small enterprise, ABC Tools Pvt. Ltd., that supplies machinery parts to a larger company, XYZ Motors Ltd. According to their agreement, XYZ Motors is supposed to make payment within 45 days from the receipt of the parts. However, XYZ Motors fails to pay the due amount within the...
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