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    100% CBIC Rule 46 & Section 31 Compliant

    Need Section 31 Tax Invoices with Direct UPI Settlements?

    Stop losing 2% to payment gateways. VyaparStack generates consecutive alphanumeric invoices, embeds NPCI UPI QR codes for instant 0% settlement, and exports GSTR-1 Table 4A JSON.

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    Home/Free Tools/Late Payment Interest Engine
    Section 43B(h) & MSMED Act Enforcement

    Statutory Late Payment & MSME Interest Calculator

    Calculate legal delayed payment interest under Section 16 of the MSMED Act (3x RBI Bank Rate, compounded monthly) and Section 50 of the CGST Act (18% p.a.). Generate an instant statutory demand notice for corporate clients.

    Current RBI Bank Rate: 6.75%Statutory 3x Rate: 20.25% p.a. (Compounded Monthly)
    Delay Period

    60 Days

    Past the statutory settlement window

    Accrued Statutory Interest

    ₹5,030.62

    Compounded at 20.25% p.a.

    Total Legal Claim

    ₹1,55,030.62

    Principal + Compounded Interest

    Statutory Demand Notice Draft
    FORMAL STATUTORY DEMAND NOTICE UNDER SECTION 16 OF THE MSMED ACT 2006 & SECTION 43B(h) OF THE INCOME TAX ACT

To: The Finance & Accounts Team
Date: 23/9/2026

Subject: Statutory Demand for Overdue Commercial Settlement & Interest Claim

Dear Sir/Madam,

This is a formal statutory notice regarding our tax invoice in the principal sum of ₹1,50,000, which matured for payment on 2026-07-25.

As of 2026-09-23, payment is overdue by 60 days, in violation of the statutory 45-day settlement window.

1. Under Section 16 of the Micro, Small and Medium Enterprises Development (MSMED) Act 2006, the buyer is liable to pay compound interest with monthly rests at three times the Bank Rate notified by the RBI (currently 20.25% per annum). Accrued statutory interest to date is ₹5,030.62.
2. Under Section 43B(h) of the Income Tax Act 1961, failure to discharge this commercial liability within the prescribed statutory period disallows the deduction of this sum from your taxable business income.
3. Total outstanding sum claimable: ₹1,55,030.62.

Please remit ₹1,55,030.62 immediately to avoid statutory filing before the Micro and Small Enterprise Facilitation Council (MSEFC).

Sincerely,
Finance & Accounts Desk
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