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Relief provided by MCA due to Covid 19 Pandemic: An overview
The second wave of Covid has further disturbed the business climate & made the compliances all the more difficult.
In view of the current scenario, already relaxation has been granted under Income Tax & GST Provisions. Some relaxation has also been provided by the Ministry of Corporate Affairs (MCA) by issuing few circulars Dated 03/05/2021.
Here is a short compilation of the relaxation provided by MCA due to Covid- part II.
General Circular No. 06/2021 dated 03/05/2021:
Relaxation of Additional fees in filing of Certain forms under the Companies Act, 2013 and LLP Act, 2008:-
In view of COVID-19 restriction and disruption, the Ministry has granted additional time to file the various forms which are due to be filed during the period of 01/04/2021 to 31/05/2021 (other than CHG-1 Form, CHG-4 Form, CHG-9 Form) upto 31st July, 2021 without any additional fees.
Therefore, the form (along with its extended due date) which due to be filed between 01/04/2021 to 31/05/2021 are
||Due Date of Filling
||Extended Due Date
|MSME-1(Outstanding Payments of MSME (Half Yearly))
PAS-6(Reconciliation of Share Capital Audit Report (Half Yearly))
|FC-4 (Annual Return of Foreign Company having Branch office, project office & Liaison Office)
|Form-11 (Annual return of LLP)
General Circular No. 07/2021 dated 03/05/2021:
Condonation of delay in filing forms related to Creation and Modification of Charges:
It is applicable in respect of filing of FormCHG-1 and CHG-9 by a company or a charge holder, where the date of creation/ modification of charge are:-
i. before 01/04/2021, but the timeline for filing form has not expired as on 01/04/2021:
Relaxation of Time
|The period beginning from 01/04/2021 and ending 31/05/2021 shall not be counted towards the number of days under section 77 or 78 of the Act.
If the form is filed before 31/05/2021, the fees as on 31/03/2021 as per fees rules shall be charged, but if form is filed after 01/06/2021, the fees shall be leviable as per fee rules after counting the number of days elapsed after 01/06/2021 till form is filed.
ii. Due on any date between 01/04/2021 to 31/05/2021 (both days inclusive)
|Relaxation of Time
|The period beginning from 01/04/2021 and ending 31/05/2021 shall not be counted towards the number of days under section 77 or 78 of the Act. Hence period will start from 01/06/2021
If the form is filed before 31/05/2021, the fees as per fees rules shall be charged, but if form is filed after 01/06/2021, the fees shall be leviable as per fee rules after counting the number of days elapsed after 01/6/2021 till form is filed.
This circular shall not apply if the timeline under section 77 and 78 has been expired before 01/04/2021.
- General Circular No. 08/2021 dated 03/05/2021:
Gap between two Board Meeting:
Due to the difficulties of holding Board Meetings in this situation, the gap between two consecutive meetings for First Two Quarter of Financial Year 2021-22 may be extended upto 180 days instead of 120 days.
In short, Interval between two Board Meeting i.e., 120 days has been extended by further 60 days for April 2021 to June 2021 (1stquarter) and July 2021 to Sept 2021 (2ndquarter)
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