Fresh Start Scheme for Company Registration in Electronic City
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
Objectives:
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?
Do you want to get an COMPANY REGISTRATION
Services in Karnataka?
then we are here to help you, we are the top company incorporation service
provider in Bangalore. feel free to send your inquiry to info@consultry.in or
feel free to contact: 7975187793 or visit https://www.consultry.in/
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