Corporate Updates – 08-09-2015


MCA has released the contents of much awaited forms AOC – 4 for filing of Financial Statements and AOC – 4 CFS for Consolidated Financial Statements and Practising Company Secretaries are now authorised to pre-certify Form AOC – 4 & AOC – 4 CFS through Amendments to the Companies (Accounts) Rules, 2014 which will be called as the Companies (Accounts) Second Amendment Rules, 2015 and shall be applicable from the date of the notification. The term "Indian Accounting Standards" will have the same meaning as prescribed in the Companies (Indian Accounting Standards) Rules, 2015. Further Financial Statement shall be prepared in the form specified in Schedule III and also required to comply with the Accounting Standards or the Indian Accounting Standards.


DVAT Authorities have cancelled registration certificate of some dealers who were showing NIL Gross Turn Over or not filing the returns in the past years. It has now come to the notice that some genuine dealers have also been affected though they were still functioning and due to some reasons could not file their returns. The department had taken the cognizance of such cases and decided to individually deal with each case on merit for the purpose of Restoration of Registration Certificate. It has been further decided that the practice of submission of individual files for restoration should be dispensed with and every zone would submit the cases for the approval of the Commissioner (VAT) on weekly basis along with requisite reports & certificates including the prescribed conditions. The Zonal Officer shall also submit a certificate that he has gone through the report of VATI and also examined the report of the Ward VATO and is satisfied that the applicant dealer is fit for restoration.

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