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Filing of abridged form of Annual Return by One Person Company and Small Company | Option to authenticate GSTIN registration by way of an Aadhar card

March 12, 2021

1-Filing of abridged form of Annual Return by One Person Company and Small Company

MCA, vide its circular dated 5th day of March, 2021, had notified the Companies (Management and Administration) Rules, 2021 and had issued a commencement notification dated 5th day of March, 2021 for enforcement of Section 23 of the Companies Amendment Act, 2017 (i.e. Section 92 of the Companies Act, 2013). The said amendments provides as under:

  1. One Person Company and Small Company shall file their Annual Return as required by the provisions of the Section 92 of the Companies Act, 2013, in e-form MGT-7A effective from the financial year 2020-21 onwards.
  2. All Companies other than One Person Company and Small Company shall continue to file their Annual Return as required by the provisions of the Section 92 of the Companies Act, 2013, in e- form MGT-7.
  3. Details such as indebtedness of the company and details of Foreign Institutional Investors (FII) like their name, address, countries of incorporation, registration and shareholding pattern are omitted in the revised Form MGT – 7.

The complete text of the Circulars may be viewed at below links:

https://bit.ly/3ermRCj

https://bit.ly/3ryIOU3

2-Option to authenticate GSTIN registration by way of an Aadhar card

MCA, vide its circular dated 5th day of March, 2021 had notified the Companies (Incorporation) Third Amendment Rules, 2021. The amended rules states that companies are hereby given an option to undergo Aadhar authentication for GSTIN registration along with companies’ incorporation application.

Consequently, e- form INC-35 AGILE PRO has been revised to incorporate the option to perform Aadhar authentication for GSTIN registration as a part of the incorporation application. The process would require submission of an Aadhar Card along with the application for registration under GST as a part of the incorporation application.

The complete text of the Circular may be viewed at below link:

https://bit.ly/3l9o0jp

Last updated: 12/03/2021

Article contributed by:

Luv Malhotra

Associate Director- Corporate Secretarial

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