Does your vendor master know which suppliers are micro or small enterprises?
Pune sits at the centre of an automotive and engineering supply chain built substantially on MSME suppliers, which makes one field in the vendor master a tax computation input rather than an administrative detail. Where payment to a Udyam-registered micro or small enterprise runs past the statutory period, the deduction for that expense is deferred until it is actually paid. Books that cannot split the creditor ledger by MSME category cannot produce a correct tax position.
Inventory-heavy manufacturing files with large item masters, work in progress, job work registers and long supplier lists. Alongside that, a services layer of IT and engineering consultancies with project-based billing and a very different reporting need.
For a Pune manufacturer the creditor ledger has become the most consequential part of the monthly close, and almost no vendor master was built for it. The requirement is simple to state and tedious to retrofit: every supplier needs a field recording whether they hold Udyam registration and in which category, because the disallowance applies to micro and small enterprises and not to medium ones or to traders. Collected at onboarding it takes seconds. Reconstructed across three hundred suppliers in March it consumes a fortnight and still produces gaps. We add the field and populate it as part of taking over the books, and age the creditor ledger by category every month thereafter.
Maharashtra professional tax applies alongside PF and ESI in the monthly payroll cycle, on the same basis as Mumbai.
The reason this stopped being a matter of tidiness is that reconciliation moved upstream of the return. Auto-populated outward liability in GSTR-3B has been non-editable since the July 2025 tax period and Table 3.2 has been system-locked since the November 2025 period, so a mistake in GSTR-1 is corrected through GSTR-1A before you file rather than adjusted afterwards. The Invoice Management System treats inaction on an inward invoice as acceptance, so input credit is settled by what happened during the month. And a GSTR-3B cannot be filed more than three years after its due date, so an old backlog is a shrinking asset rather than a static problem. The month is now where compliance is decided, and the return only reports it.
| Item | Position as at August 2026 |
|---|---|
| Who must keep books, individuals and HUF | Income above Rs 2,50,000 or turnover above Rs 25 lakh in any of the 3 preceding years |
| Who must keep books, others | Income above Rs 1,20,000 or turnover above Rs 10 lakh, on the same test |
| Governing provision | Section 62 of the Income-tax Act, 2025, which carries forward the old section 44AA |
| Penalty for not keeping them | Rs 25,000 under section 441 of the Income-tax Act, 2025 |
| Electronic books | Rule 46(8) of the Income-tax Rules, 2026 requires a daily backup on servers located in India |
| Retention, income tax | Seven tax years from the end of the relevant tax year, under Rule 46(9) |
| Retention, Companies Act | Eight financial years, section 128(5). The longest applicable period governs |
| Retention, GST | 72 months from the due date of the annual return, extended during proceedings |
| GST edit log | Rule 56(8). Required for electronic records, every registered person, since 2017 |
| Company audit trail | Rule 3(1), Companies (Accounts) Rules 2014, financial years from 1 April 2023 |
| GSTR-3B outward liability | Auto-populated and non-editable since the July 2025 tax period |
| MSME creditors | Deduction deferred until paid where a micro or small supplier is paid late |
| Plan | Fee | Built for |
|---|---|---|
| Essential | Rs 2,499 a month | Up to 100 transactions a month, one GSTIN |
| Growth | Rs 6,999 a month | Up to 400 transactions, up to three GSTINs |
| Controller | Rs 17,999 a month | High volume, multi-state, or reporting to outsiders |
| Backlog clean-up | From Rs 9,999 | Prior periods rebuilt, sequenced oldest first |
| Books health check | Rs 4,999 | Written diagnosis, credited against the first retainer |
Priced on transaction volume and the number of GSTINs rather than on turnover, because that is what actually drives the work.
Every price above is a professional fee, excluding GST and government charges. 50% on delivery.
All fees and charges listed are indicative only and do not constitute a binding offer. Final amounts may vary depending on the volume of work and the complexity involved.
Because it changes your taxable income. Where you have not paid a Udyam-registered micro or small enterprise within the period agreed, capped at 45 days, the deduction for that purchase is deferred until you actually pay. Computing that needs the creditor ledger split by MSME category, which needs the vendor master to carry the field. Without it the tax position cannot be finalised and the tax audit disclosure cannot be completed accurately.
No, and the exclusions matter. The deferral applies to micro and small enterprises. Medium enterprises are outside it. Traders are also outside it, because they hold Udyam registration for priority sector lending rather than for the payment protection, so a Udyam number alone does not settle the question. The vendor master needs the category, not just the fact of registration.
One ledger with a chart of accounts designed for both, rather than two systems reconciled by hand. The manufacturing side needs inventory, work in progress and job work tracked properly. The services side needs project or contract level reporting. Both can sit in one file if the chart and the cost centre structure are designed at the outset, and retrofitting it later means re-tagging historical transactions.
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Reviewed by the CA and CS Team, CorporateWalla · Last updated 17 August 2026 · · Sources: GST portal, Income Tax Department, Ministry of Corporate Affairs, Udyam Registration portal
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