Short Note on MCA Clarification on NO- Additional Fees on e-forms Like MSME


Short Note on MCA Clarification on NO- Additional Fees on e-forms Like (MSME, BEN, DIR-3 KYC)

Language of Circular:
·       No additional fees shall be charged for late filing during a moratorium period from 01st April to 30th September 2020,

·       In respect of any document, return, statement etc., required to be filed in the MCA-21 Registry,

·       irrespective of its due date,

·       which will not only reduce the compliance burden, including financial burden of companies/ LLPs at large, but also enable long-standing noncompliant companies/ LLPs to make a'fresh start'. The Circulars specifying detailed requirements in this regard are being issued separately

Questions

A.   Moratorium will be issued from period 01.04.2020 to 30.09.2020.

B.  Whether relaxation of additional fees applicable on BEN-2?
As MCA has not clarified it specifically, but from the language of circular it seems that no late fees shall be levy on the same for filing between 1.4.2020 to 30.09.2020.

B.  What shall be due date of filing of MSME-1 due to this circular?

As MCA has not clarified it specifically, but from the language of circular it seems that no late fees shall be levy on filing between 1.4.2020 to 30.09.2020. Second reason there is no fees for MSME-1. Therefore one can opine that MSME-1 can be file till 30.09.2020.

C.  Whether relaxation of additional fees applicable on AOC-4 NBFC (IND AS)?
As MCA has not clarified it specifically, but from the language of circular it seems that no late fees shall be levy on the same for filing between 1.4.2020 to 30.09.2020.

2. Whether relaxation of additional fees is given for any specific form or all forms?
Further, one can opine from language of circular that, no additional fees for late filing of any document, return, statement etc. therefore, relaxation seems for all the forms irrespective of any specific form.

Even its seems that relaxation is given for all forms whatever is due date for that form. Because in circular they mentioned ‘also enable long-standing noncompliant companies/ LLPs to make a'fresh start'”

Therefore, one can opine that relaxation for all the forms from additional fees if filed between 1st April, 2020 to 30th September, 2020.

Some Questions are still pending for answer from Ministry:


1.   If any form is in resubmission status and due to technical error company is not able to file such form. Whether any extension shall be provide to such forms?

2.   If any name approved and company is not able to file Spice+ due to technical issue. Whether any extension shall be provide to such forms?

(Author – CS Divesh Goyal, GOYAL DIVESH & ASSOCIATES Company Secretary in Practice from Delhi and can be contacted at csdiveshgoyal@gmail.com).

Disclaimer: The entire contents of this document have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation. Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, I assume no responsibility therefore. Users of this information are expected to refer to the relevant existing provisions of applicable Laws. The user of the information agrees that the information is not a professional advice and is subject to change without notice. I assume no responsibility for the consequences of use of such information. IN NO EVENT SHALL I SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM, ARISING OUT OF OR IN CONNECTION WITH THE USE OF THE INFORMATION.




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