What is MyOperator’s MSME registration status and how does it affect your payment obligations?

What is MyOperator’s MSME registration status and how does it affect your payment obligations?

⚡Quick answer -

MyOperator is a registered Micro & Small Enterprise (MSME) under the MSMED Act (Certificate DL01F0006288, effective April 2019).

Buyers must pay accepted invoices within the agreed credit period (if in writing) but never later than 45 days from acceptance/deemed acceptance; if no written credit period exists, payment is due within 15 days.

Late payments attract compound interest, with monthly rests, at 3 × the prevailing RBI Bank Rate (Section 16).

When should I use this guide?

Refer to this guide if you work in Procurement, Finance/AP, or Legal and need to:

• onboard MyOperator as a vendor,

• draft or review PO/payment terms,

• confirm statutory payment deadlines, or

• resolve an overdue invoice under the MSMED Act.

1. Proof of MSME registration

• Legal entity name: MyOperator

• MSME certificate no.: DL01F0006288

• Registration date: April 2019

• Certificate copy: Available on request for vendor onboarding.

2. Why does MSME status change your payment window

Sections 15–16 of the Micro, Small & Medium Enterprises Development Act, 2006 (“MSMED Act”):

• Maximum credit period = 45 days from acceptance/deemed acceptance— even if your contract sets a longer term.

• If no written due date exists, payment is due within 15 days.

• Overdue invoices accrue compound interest (monthly rests) at 3 × RBI Bank Rate.

3. Prerequisites checklist

Item

Responsible Team

Collect the MSME certificate

Procurement

Include a ≤ 45-day clause in the PO

Legal

Flag vendor as MSME in ERP

Finance/AP

Load interest-calc template

Finance/AP

4. Onboard MyOperator as a vendor

  1. Save the MSME certificate (DL01F0006288) in your vendor-documents vault.
  2. Create/Update the vendor record:
    1. Vendor name: MyOperator
    2. MSME flag: Yes
  3. Copy-paste this PO clause:

“Supplier is registered under the MSMED Act, 2006 (Cert. DL01F0006288). Payment terms shall comply with Section 15 (≤ 45 days from acceptance; 15 days if no written term). Delays attract Section 16 interest (compound, monthly rests, 3 × RBI Bank Rate).”

  1. Route the PO template for Legal sign-off.

Expected result: Your PO automatically enforces the 45-day/15-day statutory limits.

5. Pay an invoice within statutory limits

  1. Confirm the acceptance (or deemed-acceptance) date.
  2. Check the written credit term on the PO/contract.
  3. Determine the statutory due date:
    1. If written term ≤ 45 days → that date applies. 
    2. If no written term → 15 days after acceptance.
  4. Schedule payment in ERP to land on or before the statutory due date.
  5. Release funds and record the payment reference.

Success check: Invoice status = “Paid” in ERP on/before the statutory due date.

6. What to do if a payment is overdue

  1. Reconfirm the acceptance date and contractual due date.
  2. Email a reminder; attach the invoice, acceptance proof, and MSME certificate (template below).
  3. Calculate Section 16 interest (3 × Bank Rate, compounded monthly) from due date to planned payment date.
  4. Escalate internally (AP → CFO) and externally (MSEFC) if still unpaid.

Email template (copy-paste):

Subject: Overdue payment – MSMED Act compliance — [Invoice # / PO #]
Body:
• Supplier: MyOperator (MSME Cert DL01F0006288)
• Invoice & acceptance date: [ ] / [ ]
• Contractual due date (≤ 45 days): [ ]
• Amount overdue: ₹[ ]
• Interest per Sec 16 (to today): ₹[ ]
Kindly remit by [date] or advise next steps.

7. Escalation via MSE Facilitation Council

• Online portal: https://samadhaan.msme.gov.in

• Forum: Micro & Small Enterprises Facilitation Council (MSEFC)

• Documents required: Invoice, PO/contract, acceptance proof, interest worksheet, MSME certificate.

• Typical outcome: Direction to buyer for payment + interest.

8. Key terms

Term

Meaning

Acceptance / deemed acceptance

Date the goods/services are approved (or automatically deemed approved); this starts the payment clock.

Bank Rate

RBI benchmark rate; statutory interest = 3 × this rate.

Appointed day

Statutory due date (15 days or ≤ 45 days from acceptance).

9. When does this guide NOT apply?

• If goods/services are supplied outside India.

• If another law or contract requires an earlier payment (e.g., Government e-Marketplace orders).

• If the invoice is still within an agreed written term ≤ 45 days.

Keywords: MyOperator MSME certificate, MSMED Act Section 15, 45-day payment limit, Section 16 interest, RBI Bank Rate