New FLASH SALE Dhamaka - Flat 60% Off on All Courses

    Question

    Under the MSMED Act, 2006, what is the maximum time

    frame within which an MSME must file a claim for delayed payments with the Facilitation Council?
    A 30 days from the receipt of payment Correct Answer Incorrect Answer
    B 60 days from the receipt of payment Correct Answer Incorrect Answer
    C 90 days from the receipt of payment Correct Answer Incorrect Answer
    D 120 days from the receipt of payment Correct Answer Incorrect Answer
    E 180 days from the receipt of payment Correct Answer Incorrect Answer

    Solution

    The MSMED Act, 2006 allows MSMEs to file a claim for delayed payments within 90 days of the receipt of goods or services. If the payment is not made within the specified period, the MSME can seek intervention from the Facilitation Council.

    Practice Next