Tag Archives: Annual filings

Change in Levy of Additional Fee for Delay in Annual Filings with Ministry of Corporate Affairs

Background

The Ministry of Corporate Affairs (the MCA) on 8 May 2018, notified the Companies (Registration Offices and Fees) Second Amendment Rules 2018. With this notification, all annual filings filed post 30 June 2018, would incur a penalty of Rs. 100 per day for the period of delay. The MCA has notified these amendment rules in pursuance of an amendment made in section 403 of the Companies Act 2013 (the “Act”), vide the Companies (Amendment) Act, 2017.

With this amendment, the delay in filing of Annual return under section 92 of the Act or Annual Financial Statements & Boards’ Report under section 137 of the Act would result in late filing fee of Rs. 100 per day with effect from 1 July 2018.

The levy of penalty/additional fee after the expiry of 30 June 2018 shall be as provided in the below table:

 

Particulars

Additional Filing fees

If the due date is after 30 June 2018

If the due date is prior to 30 June 2018

Form 23 AC, 23 ACA, 23AC- XBRL, 23 ACA- XBRL, 20 B, 21B under the Companies Act, 1956 Not applicable (As the due date would have expired under the Companies Act 1956)
Sl. No. Period of delay Additional fee payable (in Rs.) up to 30 June 2018
1 Up to 30 days 2 times of normal filing fees
2 More than 30 days and up to 60 days 4 times of normal filing fees
3 More than 60 days and up to 90 days 6 times of normal filing fees
4 More than 90 days and up to 180 days 10 times of normal filing fees
5 Beyond 180 days 12 times of normal filing fees

 

Plus

 

Rs. 100 per day with effect from 1 July 2018

Form MGT-7 under section 92 of the Act

OR

Form AOC-4, AOC-4 CFS, AOC-4 XBRL under Section 137 of the Act

Rs. 100 per day
Sl. No. Period of delay Additional fee payable (in Rs.) up to 30 June 2018
1 Up to 30 days 2 times of normal filing fees
2 More than 30 days and up to 60 days 4 times of normal filing fees
3 More than 60 days and up to 90 days 6 times of normal filing fees
4 More than 90 days and up to 180 days 10 times of normal filing fees
5 Beyond 180 days 12 times of normal filing fees

 

Plus

 

Rs. 100 per day with effect from 1 July 2018

Author: Ms. Shivani Handa is a qualified company secretary and works as an Associate at NovoJuris Legal.

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