Trade Payables runs the same dual bill-date ageing as Trade Receivables, operational bands from 0-30 days out to over 3 years alongside the statutory Schedule III Division II buckets, with a party-wise summary and undated or unclassified bills flagged rather than netted. On top of the ageing, it runs an MSME triple-feed against the vendor register: Section 15 of the MSMED Act interest-on-delay quantified to the rupee for every MSME-registered supplier paid late, Section 16 mapped straight to Form 3CD Clause 22, and Section 43B(h) of the Income-tax Act split out on its own line so the disallowance for amounts unpaid within the MSME time limit is never conflated with ordinary Sec 15 interest. Where completeness of the MSME vendor register can't be machine-verified, because it depends on a register only the auditor holds, the caption paper says so plainly instead of certifying a check it didn't run.
Two paths to the same audit conclusion. One leaves traces; the other doesn't.
The payables register is aged twice from one source: an operational band for follow-up, and the statutory Sch III Division II buckets for Note 23 Trade Payables. A party-wise summary sits above both, with undated or unmatched bills flagged as exceptions.
Every MSME-flagged supplier is run through three angles at once against the vendor register: Sec 15 interest-on-delay quantified to the rupee, Sec 16 mapped to Form 3CD Clause 22, and Sec 43B(h) disallowance computed and shown separately so it never gets read as the same number as Sec 15 interest.
Whether every MSME supplier has actually been captured depends on a vendor register the auditor holds, not something CORAA can machine-verify end to end. The caption paper states this limitation directly in its own section rather than implying a completeness test that didn't run.
The same two-view ageing as Trade Receivables: an operational band for the payables team, and the statutory Sch III Division II buckets for disclosure, both from the same register.
Three angles computed together against the same MSME vendor register, none of them a re-derivation of another.
Amounts payable to an MSME supplier beyond the time limit specified in Sec 15, and unpaid as at year-end, are disallowed under Sec 43B(h) in the year of the expense. CORAA computes this figure separately from the Sec 15 interest accrual so the tax working paper doesn't merge the two.
Where the MSME vendor register available to CORAA may not be complete, because completeness depends on the auditee's own record-keeping, the caption paper says so in plain language rather than presenting an unverifiable check as passed.
