e-ROC Compliances

The Ministry of Corporate Affairs has introduced a new Web-Form, ‘SPICe+’ (pronounced ‘SPICePlus’) and AGILE – PRO replacing the existing SPICe form. SPICe+ would offer 10 different services by three Central Government Ministries & Departments (Ministry of Corporate Affairs, Ministry of Labour& Department of Revenue in the Ministry of Finance), One State Government (Maharashtra) and Banks.

The services provided under SPICe+ are:

• (i)Name reservation,
• (ii)Incorporation,
• (iii)PAN,
• (iv)TAN,
• (v)DIN,
• (vi)EPFO,
• (vii)ESIC,
• (viii)GST number,
• (ix)Opening of bank account

The Ministry of Corporate Affairs (MCA) vide its General Circular No. 12/2020 dated 30.03.2020 has come up with the Companies Fresh Start Scheme, 2020 for one-time application of condonation of delay of filling the various documents, forms, returns etc. with the MCA.This Scheme will enable companies to make good of any filing-related defaults, irrespective of their duration of the default, and to make a fresh start as a fully compliant entity and shall start from 01st April 2020 till 30th September 2020,

Key Points of CFSS, 2020:

• In all Approximately 54 Forms of Companies Act, 2013 and 10 Forms of Companies Act, 1956 are Covered under the Scheme. (List of Such Forms will be hosted shortly by MCA on MCA Portal).
• It is Compulsory to File Form DIR 3 KYC/webform DIR 3 KYC of all the Existing directors of Defaulters Companies before availing the benefit of the said Scheme.
• It is compulsory to file Active Form INC-22A. Only the companies whose status is Active will be able to seek the benefit of the scheme.
• Stakeholder shall take note that said scheme shall have no retrospective effect, i.e. forms that are filed earlier with huge amount of additional fees, the said additional fees will not be refunded.
• Immunity will be Granted only for those forms that will be filed in CFSS duration i.e. 01/04/2020 to 30/09/2020.

MCA has published List of Forms Eligible for Additional Fee Waiver under the CFSS (Companies Fresh Start Scheme), 2020 and LLP Settlement Scheme 2020.

Check out available Forms at Source/Link:
http://www.mca.gov.in/Ministry/pdf/CFSS2020_02042020.pdf
Link/Source: http://www.mca.gov.in/Ministry/pdf/Circular12_30032020.pdf

MCA vide General Circular No. 13/2020 and File No. F. No. 17/61.2016-CL-V-Pt-I issued dated 30th March, 2020, has modified the provisions related to LLP SETTLEMENT SCHEME, 2020 to allow a One-time condonation of delay in filing statutorily required documents with the Registrar.

Link/Source: http://www.mca.gov.in/Ministry/pdf/Circular13_30032020.pdf

The Ministry of Corporate Affairs has launched a new online monitoring system to streamline the corporates’ compliances, increase transparency and penalise the defaulters to deal with matters of non-compliance more effectively and expediently. This online monitoring systemworks on artificial intelligence and automaticallydetects the non-compliance and digitally sends show cause notice to the defaultercompany or director. The said defaulting company/director isrequired to submit their defence/submission reply, digitally via MCA-CMS portal.
URL of MCA-CMS Portal:https://mcacms.gov.in

The Ministry of Corporate Affairsis in the process of upgrading its online services offered through its MCA21 portal to Companies,in order to enable faceless adjudication ofspecifiedoffences/breaches/defaults under the Companies Act, through electronic means. Accordingly, Companies will be able to settle the specified offences/breaches by paying the applicable fees/fine/penalty, without having to go to a Court.

DIR – 3/DIR 3 KYC Active Form (INC 22 A): Every Director who has been allotted DIN on or before the end of the financial year, and whose DIN status is ‘Approved’, would be mandatorily required to file form DIR-3 KYC before 30th September of the immediately next financial year.

Every Company incorporated on or before December 31, 2017 is required to file e – Form ACTIVE (Active Company Tagging Identities and Verification) or INC 22A by 30.9.2020.

The Companies (Auditor’s Report) Order, 2020 shall be made applicable from financial year 2020-21, instead of being applicable from the financial year 2019-20 as notified earlier to ease the burden on companies & their auditors.

Link/Source: http://www.mca.gov.in/Ministry/pdf/Notification_25032020.pdf

How TaxAaram can Help You

TaxAaram, on receiving an official e-mandate/authorisation from its valued registered users, will render its seamless and hassle-free e-services, in relation to all their e-compliances in relation to Corporate & Secretarial Compliances, within the comforts of their homes, without even the requirement of visiting the Registrar of Companies (ROC) or the consultants’ office, in the most professional and cost-effective manner.