General Studies · MSME Regulations
An MSME supplier, categorized as a Micro Enterprise, has a written agreement with a large buyer specifying payment within 60 days. According to the MSMED Act, 2006, what is the maximum permissible period within which the buyer is legally obligated to make the payment after the date of acceptance of the goods?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 115 days, because no agreement on payment timelines is valid under the Act.
- 245 days, as this is the statutory upper limit overriding any agreement.✓
- 390 days, because the buyer is a large-scale enterprise.
- 460 days, as per the terms of the written agreement.
Correct answer
45 days, as this is the statutory upper limit overriding any agreement.
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