Q. Section 43B(h)

Question

A small enterprise crosses the limit of 50 crores turnover during the current year but the category could be upgraded on the MSME portal only in the next year. so would the provision of Sec. 43B(h) still be applicable to the assessee who is receiving goods from this unit in case payment is delayed.

Thanks

Answer 1

Yes, as turnover of previous year is considered for classification of micro, small and medium enterprise.