How to Verify MSME Number Online- Verify Udyam Registration Number

The Government has made a path breaking change in the Finance Act, 2023 by introducing a new section 43B(h) in the Income Tax Act, 1961 according to which every business entity is now required to make timely payment to their suppliers (who are registered under MSMED Act) i.e. Udyam registered. Section 43B(h) is applicable in respect of dues of Micro and Small enterprises. According to MSMED Act, the payment to micro & Small Enterprise suppliers should be made within the period agreed between the parties.

Please note that the agreement period can not be more than 45 days of invoice date. If the agreement period is more than 45 days, then the payment should be assured within 45 days. Further, In case there is no agreement between the parties, the payment should be made within 15 days of invoice date.

How to verify Udyam Registration Number

If your supplier has provided you his/her "Udyam Registration Number", you might be interested in verifying whether his/her Udyam Registration Number is correct or not. For this purpose, MSME Portal has provided a new functionality to the users "Verify Udyam Registration Number". This functionality is now operational and can be used by the users to verify any Udyam Registration Number.

Now you can verify MSME Number of your suppliers to check Section 43B(h) applicability.

The link to access is:

https://udyamregistration.gov.in/udyam_verify.aspx

Disclaimer: The article is meant for educational purposes only. Taxwink shall not be responsible for any loss or damage caused to any person from the use of the information contained in this article. Readers are therefore requested to act diligently and under consultation with any professional. For user support mail at: support@taxwink.com