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Glossary / Also known as

MSME 45-day rule

Another name for MSME Vendor Compliance.

Other names
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What does MSME 45-day rule mean?

MSME 45-day rule is another name for MSME Vendor Compliance. MSME vendor compliance refers to the regulatory obligations buyers have when transacting with micro, small, and medium enterprise vendors, particularly regarding payment timelines under Section 43B(h).

The two names mean the same thing. You will see "MSME 45-day rule" in some ledgers, reports and contracts and "MSME Vendor Compliance" in others. The full entry covers how it works, with examples.

Read the full definition of MSME Vendor Compliance

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From the glossary

Related terms.

MSME payments MSME Vendor Compliance MSME vendor compliance refers to the regulatory obligations buyers have when transacting with micro, small, and medium enterprise vendors, particularly regarding payment timelines under Section 43B(h). Also called MSME payment compliance, section 43B(h) compliance, MSME 45-day rule MSME payments MSME (Micro, Small and Medium Enterprises) A government classification for businesses based on investment and turnover that enables access to subsidies, priority lending, and special schemes. Also called micro and small enterprises, Udyam registered enterprise, MSE Accounts payable Accounts Payable (AP) Money a business owes to its suppliers and vendors for goods or services received but not yet paid for. Also called trade payables, sundry creditors, payables TDS TDS (Tax Deducted at Source) A system where the payer deducts income tax at prescribed rates before paying the payee, and deposits it with the government on the payee's behalf. Also called withholding tax, tax deduction at source, tax withheld at source Due dates and calendars Compliance Calendar A structured schedule of all regulatory filing deadlines and statutory obligations a business must fulfill throughout the year. Also called statutory due date calendar, filing calendar, compliance tracker Statutory compliance Business Compliance The process of adhering to all applicable laws, regulations, and industry standards that govern business operations in India. Also called corporate compliance, regulatory compliance
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AP What is Accounts Payable? Meaning, Examples and AP vs AR Accounts payable is the money a business owes suppliers for goods or services received but not yet paid. See the meaning, AP vs AR and the journal entry. Dhatri Medarametla 3 min Vendors What is Vendor Management? Process, Lifecycle and KPIs Vendor management is how a business selects, onboards, contracts, pays, monitors and exits suppliers, so each delivers what was agreed, at the agreed price. OneFinOps Editorial 3 min Vendors Vendor Risk Assessment: Process, Checklist and Framework Vendor risk assessment rates a supplier's compliance, financial, operational, data and reputational risk into a score and tier that set approval and controls. OneFinOps Editorial 3 min
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