Payment Terms Legislation In India
Please see below for a summary of payment terms in India and the various industries across which payment term legislation appears. You can also download a summary of all Indian payment terms by clicking the button below.
The Micro, Small and Medium Enterprises Development (MSMED) Act 2006 limits payment terms to SMEs to 45 days.
The Indian government’s e-marketplace for government procurement currently requires payment of suppliers within 10 days. The government is also currently debating the introduction of 30 days terms for all other government procurement.
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