In Company registration in Electronic city he government has been making various efforts of clearing appeals, disputes, and backlogs under indirect and direct taxes which has shown the resulting the launched settlement schemes that come under Direct Tax and Indirect tax. On similar lines, Ministry has come up with a new and fresh scheme which is known as Companies Fresh Start Scheme 2020 also known as CFSS -2020 by its General Circular for the one-time application as treat of application of delay of filing the several forms, documents, and returns.
Details of the Scheme
CFSS-2020 will be effective from 1st April every year and will end on 30th September of every year which means the companies have been given 6 months approximately to fill up the compliance once again without paying any additional fee or penalty for being late in filing the necessary forms, documents, and returns. In a proposal, default companies shall be only required to pay normal fees as per Registration offices and Fees Rule Terms and Conditions in 2014 and no additional fee will be payable of the forms, documents, and returns.
Company Registration consultants in Electronic city has an additional scheme, this scheme gives a various opportunity to inactive the companies and to get their companies declared as “dormant company” under section 455 as per the Companies Act 2013 by filling up the e-form MSC-1 at a normal fee or apply for attracting the name of the company by filing e-form STK -2 at per the mentioned fee.
The application for seeking strength in respect of belated documents can be made digitally by filling up the form CFSS-2020, this form has no fee payable, after the closure of the scheme but not after the 6 months from the closure of the scheme and after the forms, returns and documents are taken on a record or a file or get approved by the Designated Authority.
The huge impact of filing CFSS-2020 will be that the designated authority may withdraw the prosecutions before any law and proceedings pending before any examine authority in respect of the strength that has been granted by the designated authority
To make sure companies correct any filing-related mistakes and make a fresh start as a fully compliant entity.
To provide a full facility to Limited Liability Partnerships (LLPs), the Ministry has also revised the ‘LLP Settlement Scheme in 2020.
The Fresh Start scheme and modified LLP Settlement Scheme will reduce the burden of compliance during the public health situation.
Both the schemes are a one-time jury trial of additional filing fees for late filings by the LLPs or companies during the period starting from April 1 and ending on September 30.
Company Registration Services in Electronic city there are many Significance some of them are
The Schemes would significantly decrease the related burden of financials especially for those with long-term standing defaults thus giving them a huge opportunity to make a “fresh start”.
Both the Schemes also contain a provision for giving strength from penal proceedings, including against imposition of the fine for delayed submissions.
It also provides extra time for filing appeals before the concerned Regional Directors against the imposition of fines, that is already imposed.
The strength is only against delayed filings in MCA 21 and not against any independent violation of the law.
How to Apply for COMPANY REGISTRATION in Electronic City?
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