Section 16 interest calculator
Compound interest with monthly rests at three times the RBI bank rate, across rate changes, with a period-wise breakdown you can attach to the claim.
MSMED Act, 2006 · Sections 15, 16 & 18
Your buyer is late. The law is on your side.
MSME Vasooli Kit turns your invoice facts into a filing-ready delayed-payment claim for the Micro and Small Enterprises Facilitation Council — with the interest computed exactly the way the statute requires.
7-day trial · then ₹1,000 per application · no subscription
Everything the claim file needs
Deterministic templates and arithmetic. Nothing is generated by an AI model — the same inputs always produce the same documents.
Case-file checklist
Registration proof, invoices, delivery evidence, correspondence, bank records and the filing bundle — each with a note on why the council looks for it.
Statutory timeline
Day 0 to the award: acceptance, the 45-day outer limit under Section 15, the appointed day, notice, conciliation and arbitration under Section 18.
Statement of claim
A structured claim petition with your particulars, the buyer's particulars, invoice facts and the computed principal, interest and total.
Affidavit of verification
A verification affidavit matched to the statement of claim, ready for notarisation.
Statutory demand notice
A pre-filing demand notice on your letterhead, with the authorisation letter when a representative signs.
45 daysOuter limit for payment under Section 15
3×RBI bank rate, compounded monthly under Section 16
90 daysCouncil's target to conclude proceedings under Section 18
Priced per claim, not per month
Built by a practising chartered accountant
Every template follows the drafting conventions councils actually accept, and the interest working is laid out period by period so it can be checked line by line.