According to the MSMED Act if a buyer fails to make payment to the supplier as required, the buyer is liable to pay compound interest with monthly rests to the supplier. What is the rate of this interest?
Section 16. Date from which and rate at which interest is payable: Where any buyer fails to make payment of the amount to the supplier, as required under section 15, the buyer shall, notwithstanding anything contained in any agreement between the buyer and the supplier or in any law for the time being in force, be liable to pay compound interest with monthly rests to the supplier on that amount from the appointed day or, as the case may be, from the date immediately following the date agreed upon, at three times of the bank rate notified by the Reserve Bank.
Cost of issue of new shares is known as:
Consider the following statements regarding Contingency Fund of India
1. Currently, the Parliament has authorized a corpus of ₹30000 crore. ...
Match the following:
A) Systematic Risk 1) Risk of price movements
B) Operational Risk 2...
Consider the following statements regarding the storage of bullion:
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From the following in which of the step of risk management we check ‘How will the risk affect us’ and consider probability and impact of operations:...
What is capital account convertibility?
If the due date of a bill is after the closing date of accounts, then interest from the date of closing to the due date is written in the appropriate si...
Accounting standards in India issued by:
According to Union Budget 2023-24, consider the following statements regarding the Marine sector:
1. Marine products recorded the highest expo...
According to the International Monetary Fund,Asia's economy is expected to expand by _______ this year after a 3.8 per cent increase in 2022.
