Corporate Updates 31 March 2014

MCA: 

1. MCA after notifying rules for 10 chapters of the Companies Act, 2013 on 27-03-2013, has notified some more Rules under the Companies Act, 2013. All rules will be applicable from the date of their publication in the Official Gazette.

Chapter XXVI: Nidhi Rules, 2014
Chapter XXIX: Companies (Adjudication of Penalties) Rules, 2014
Chapter XXIX: Companies (Miscellaneous) Rules, 2014
Amendment to Schedule II of the Companies Act, 2013

2. Another good move by MCA, as it has reviewed the whole process of payment of court fee & stamp duty for issuance of certified true copies at various ROC’s across India. With a view to improve the existing component for payment of stamp duty & court fees and to avoid delay in issuance of Certified True Copies, MCA vide its Circular has enabled the process of payment of stamp duty & court fee online. The Certified True Copies will be sent to the applicant by the concerned Registrar of Companies within 15 days by post.

3. In order to facilitate the completion of notified sections, MCA has planned a staggered roll out of various forms. MCA vide its Circular has decided to waive fees for all event based filing whose due date falls between 01/04/2014 to 30/04/2014 and from 01/04/2014 to 13/04/2014 the period will be used for clearing pending e-forms already filed under the provisions of Companies Act, 1956 and except existing e-forms mentioned in Table “A” no other e-forms will be available for filing in this period. Other services will, however, continue to be available. All stake-holders are advised to take into account this temporary suspension and to carry out filings including for incorporation of companies where urgently required upto 31st March, 2014.

SERVICE TAX: 

Today 31-03-2014 is the last date for payment of Service Tax liability for the month / quarter ending on 31-03-2014. The tax is required to be paid online by all the Registered Service Providers who have deposited more than Rs. 1,00,000/- Service Tax in the last financial year 2012-2013.

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