MSME delayed payment interest
msme_interestRead-only
Compound interest a buyer owes a micro or small enterprise on a delayed payment under s.16 MSMED Act (three times the RBI bank rate, compounded monthly), with the covered/not-covered verdict.
Input Schema
| Name | Required | Description | Default |
|---|---|---|---|
| amount | Yes | Unpaid principal in rupees | |
| trader | Yes | Is the supplier a retail/wholesale trader (NIC 45/46/47)? | |
| category | Yes | Supplier's MSME category at the time of the transaction | |
| registered | Yes | When the supplier's Udyam registration was made, relative to the order | |
| agreed_date | No | Date in YYYY-MM-DD form. Payment date agreed in writing, if any | |
| acceptance_date | Yes | Date in YYYY-MM-DD form. The day the buyer accepted the goods or services (delivery day if no objection was raised) |