FAQ
Questions suppliers ask
Straight answers on due dates, interest and your data.
Is this legal advice?
No. Receivo is a tool, not a law firm. It applies Sections 15 and 16 of the MSMED Act to the dates you enter and shows its working, so you or your CA can check every figure.
My purchase order gives the buyer 90 days. Which date counts?
Section 15 caps any written term at 45 days from acceptance. A longer term in a purchase order or contract does not move the legal due date past day 45.
Nothing is in writing. What then?
Your buyer must pay within 15 days of accepting the goods or services. Interest runs from the day after that.
When are goods or services accepted?
On the day of delivery, unless your buyer objected in writing within 15 days. Then it is the day you settled the objection.
I am a trader registered on Udyam. Am I covered?
Retail and wholesale traders can register on Udyam, but a 2021 government notification limits their benefit to priority-sector lending. Ask your CA before relying on Sections 15 and 16 as a trader.
What happens to the invoices I add?
They are saved to your account so Receivo can track each due date, and only you can see them. Receivo's analytics record that an invoice was checked and whether it was overdue, not your buyer's name or the amount. Delete any invoice at any time.
Do I need a password?
No. Enter your email and Receivo sends you a sign-in link. Opening it signs you in.