MCA (ROC) Compliance Calendar _ June 2019

Compliance Requirement UNDER Companies Act, 2013 and Rules made thereunder;

Applicable Laws/Acts	Due Dates	Compliance Particulars	Forms / Filing mode
Companies Act, 2013	Within 180 Days From The Date Of Incorporation Of The Company	As per Section 10 A (Commencement of Business) of the Companies Act, 2013, inserted vide the Companies (Amendment) Ordinance, 2018 w.e.f. 2nd November, 2018, a Company Incorporated after the ordinance and having share capital shall not commence its business or exercise any borrowing powers unless a declaration is filed by the Director within 180 days from the date of Incorporation of the Company with the ROC. http://www.mca.gov.in/Ministry/pdf/CompaniesFourthAmendmentRules_19122018.pdf	MCA E- Form INC 20A
Companies Act, 2013	30 days from the date of deployment of this form on the website of Ministry/ NFRA	Every existing body corporate other than a company governed by the NFRA Rules (Rule 3(1)), shall inform the (“NFRA”) about details of the auditor(s) as on 13th November 2018. http://www.mca.gov.in/Ministry/pdf/NoticeAndCirculars_13122018.pdf	Form NFRA-1 (e-form not yet deployed Ministry (ROC)) / NFRA
Companies Act, 2013	30.05.2019 (within 30 days of the form being made available by the MCA)	All Specified Companies (i.e. Companies who get supplies of goods or services from micro and small enterprises and whose payments to micro and small enterprise suppliers exceed 45 days from the date of acceptance or the date of deemed acceptance of the goods or services as per section 9 of the Micro, Small and Medium Enterprises Development Act, 2006) to file details of all outstanding dues to Micro or small enterprises suppliers existing on 22.01.2019 within thirty days. Link of the MCA notification : http://www.mca.gov.in/Ministry/pdf/MSMESpecifiedCompanies_22012019.pdf	Form MSME -1 a) One Time Return and b) Half Year Return (31.03.2019)
Companies Act, 2013	within 90 days from the date of notification ( earlier On or before 8th of May, 2019)	A person having Significant beneficial owner shall file a declaration to the reporting company http://www.mca.gov.in/Ministry/pdf/CompaniesOwnersAmendmentRules_08020219.pdf i.e. within 90 days of the commencement of the Companies (Significant Beneficial Owners) Amendment Rules, 2019,	Form BEN-1 (e-form not yet deployed by Ministry (ROC))
Companies Act, 2013	Within 30 Days	Filing of form BEN-2 under the Companies (Significant Beneficial Owners) Rules, 2018. (Within 30 days from the date of receipt of declaration in BEN-1) http://www.mca.gov.in/Ministry/pdf/CompaniesOwnersAmendmentRules_08020219.pdf	Form BEN – 2 (e-form not yet deployed by Ministry (ROC))
Companies Act, 2013	On or before 15.06.2019	Filing of the particulars of the Company & its registered office. (by every company incorporated on or before the 31.12.2017.) Due date extended- Link : http://www.mca.gov.in/Ministry/pdf/CompaniesRegistrationOfficesFeesRule_25042019.pdf	Active Form INC -22A
Companies Act, 2013	Within 30 Days from the date of deployment of revised e-form	DIN KYC through DIR 3 KYC Form is an Annual Exercise, however, the e-form presently is not designed in such manner and thus the due date for filing the e-form would be 30 days from the date of deployment of revised e-form. http://www.mca.gov.in/Ministry/pdf/DIR3KYCcompleteMessage_13042019.pdf Penalty after due date is Rs. 5000/-	E-Form DIR – 3 KYC ( Revised E-Form, Not yet deployed)
Companies Act, 2013	within 60 days from the conclusion of each half year	Reconciliation of Share Capital Audit Report (Half-yearly) Pursuant to sub-rule Rule 9A (8) of  Companies (Prospectus and Allotment of Securities) Rules, 2014 Applicable w.e.f.  30.09.2019 http://www.mca.gov.in/Ministry/pdf/Rules_23052019.pdf	E-Form PAS – 6 (E-Form, Not yet deployed)
Companies Act, 2013	29.06.2019	First DPT-3 for amounts which are NOT deposits (exempted deposits) outstanding as on 31.3.2019 AND received on or after 1.4.2014 Auditor's certificate is NOT mandatory	E –Form DPT – 3 (One Time Return)
Companies Act, 2013	30.06.2019	Transaction during the year, which are deposits as well as and which are not deposits (exempted deposits) Auditor's Certificate is mandatory. This is to be filled every year.	E –Form DPT – 3 (Half Yearly  Return)

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This article is updated till 31^st May, 2019 .                                 

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Update on E Form MSME-1 - Dated 29.05.2019 (As per Webinar)

Updates on MSME-1

ICSI Webinar dated 29.05.2019

1. Two Returns: Initial & Half Year

2. No Extension for any return as the due date is 30^th May 2019 and both returns have to be filed.

3. Date of Invoice or Date of Receipt of invoice:

For Return purpose Date should be taken as per terms of the Agreement and if no Agreement is there then it should be taken as per the Provisions as mentioned under MSMED Act 2006.

4. If agreement terms for payment is 28 days, and payment is made after 28 days then it is termed as delayed payment and should be reported under MSME-1 Form.

As 45 days criteria will be applicable when there is no agreement or agreement for 45 days.

5. If any Supplier is not registered under  MSMED Act, 2006 and at the time of return he got status of Micro or Small then reporting should be required to be made for that supplier.

6. Multiple forms can be filed, if entries are more than 99.

7. If Company is under IBC Process – Duty of Resolution Professional to file it (only advise)

8. IF Company is incorporated in FY 2018 -19, even then reporting is required to be made for the half year.

Lets say, Company is incorporated in January 2019, even then reporting for half year is required.    

9. Financial Year from to: Activated for Initial Return

10. MSME-1 Form is governed as per MSMED Act, 2006 provisions.

Note on E-Form DPT-3 - Key Highlights

Key Highlights on DPT-3 Form (including ICSI Webinar key points)

As per the recent amendments made under the Companies Act, 2013 and read with various notification issued by the Ministry of Corporate Affairs of India‐

The companies are required to make disclosures of Deposits  pursuant to rule 16 and 16A of the Companies (Acceptance of Deposits) Rules, 2014

Some Key Points regarding E-Form DPT - 3

DPT-3: Rule 16 of Companies (Acceptance of Deposits) Rules, 2014

Deposit is defined under Rule 2(1)(c) of the (Acceptance of Deposits) Rules, 2014)

1. DPT-3 has to be filed twice:

a) First DPT-3 for amounts which are NOT deposits (exempted deposits) outstanding as on 31.3.2019 AND received on or after 1.4.2014 by 29th June 2019 where Auditor's certificate is NOT mandatory.

b) Second  DPT-3 is for the transaction during the year, which are deposits as well as transaction during the year,  which are not deposits (exempted deposits) by 30 June 2019, where Auditor's Certificate is mandatory. This is to be filled every year.

2) Nil DPT-3 is not required to be filled

1. E-Form DPT-3 is available w.e.f. 01^st May 2019 on MCA Portal for filing purpose.

2. Four types of different returns required to be filed by a particular Company with the ROC as mentioned in the E-Form DPT-3:

a) Onetime Return for disclosure of details of outstanding money or loan received by a company but not considered as deposits in terms of rule 2(1)(c) of the Companies (Acceptance of Deposits) Rules, 2014:

b) Return of Deposit

c) Particulars of transactions by a company not considered as deposit as per rule 2 (I) (c) of the Companies (Acceptance of Deposit) Rules, 2014

d) Return of Deposit and Particulars of transactions by a company not considered as a deposit

Key  highlights of the webinar :

1. One time return: within 90 days from 31.03.2019 hence the due date is 29.06.2019

2. Return filed by companies accepting deposits and does not have exempted deposits.

3. Return of Exempted deposit by all the Companies other than Govt Companies and NBFC’s. :

4. Any Companies has not accepted deposit but has received some money which is not treated as deposit as mentioned under the definition of deposit (Yearly return)

5.  Companies having exempted deposits and accepted deposits.

6. For the Purpose of One Time Return and 1^st yearly return, the particular date is 31.03.2019.

7. One Time: Particulars required to be given: Only Final outstanding amount not the bifurcation of that amount.

8. Why two returns for the same date is 31.03.2019 :

Because two different kinds of information’s are going :

a) only the o/s amount and other is a detailed bifurcation of the amount.

b) One time return, we have to give the details amounts which are received after 01.04.2014 and outstanding as on 31.03.2019

For ex.

The Company has received  50 lakhs rupees on 15.03.2014 and 40 lakhs Rupees on 15.04.2014 and Entire amount of Rs. 90 lakhs is outstanding as on 31.03.2019:

In the above case for One Time Return we will consider only 40 lakhs i.e. amount received after 01.04.2014 and reported the same.\

And while filing 1^st Yearly return there is no bifurcation between the amount received before or after 01.04.2014 and hence 90 lakhs will come and reported.

9. Some Important aspects :

i). Amount received from an LLP as a loan is not covered under exempted deposit that will fall under the definition of deposit.

ii) If we received trade advance for more than 365 days and as on 31^st March is outstanding then it should be covered under the definition of deposit.

iii). If a director is giving loan to a Company when he is holding the post of director in the company then this will become exempted deposit and he should give a declaration for the same that the amount is from his / her own fund not from the borrowed fund otherwise, it will be treated as a deposit.

iv). If Company make a public issue of securities and received money but does not allot shares with 60 days then  Share application money which is outstanding less than 60 days will fall under the definition of Exempted deposit and if  more than 60 days ( not allotted shares/ refunded the money) then fall under the definition of deposit.

v). Amount received from a HUF by Pvt Ltd. Company: Exempted deposit because HUF is not separate legal entity and the amount received will be treated as an amount received from the KARTA.

In the case he is not a director and giving loan to a Company then it will be treated as deposit.

9. This is not in STP Mode, It will be processed by ROC.

10. Point No. 6 of Form: Objects of the Company: Automatically prefilled from the Last AOC-4 Filed by you where you mentioned your NIC Code and that NIC code will be captured by the system. And we should check whether the prefilled field is ok or not, If it is not matching with Companies data then we should raise a ticket with the MCA.

11. Clause 8: Net worth of the Company.

Date of return is 31.03.2019 so earlier Financial Statements would be 31.03.2018. No need to Audit Financial Statements to File DPT-3 Form.

Other intangible assets:

We Should attach a clarification letter to clarify the calculation of NETWORTH.

Because DPT-3 is asking Net worth and Other intangible assets both. So in this case Networth will be reduced because while computing net-worth for MCA-7 and AOC-4, the Net worth includes Other intangible assets.

So there will be a change in the Networth as per MGT-7 / AOC-4 and DPT-3.  

12. Point – 14 of E-form :

Only Amount outstanding as on 31.03.2019 and only activated for one time return only.

One Time return has to be filed by all the company except Govt and NBFC.

It is advisable to obtain and attach Auditors Certificate (statutory auditor) with Form DPT-3.

13. Exemption Given to :

Government Companies

NBFC

Updates Webinar dated 24^th May 2019

                            

1 Nil Return for DPT-3 is not required

2. Auditors Certificate is required for Deposits only not for exempted Deposits.