Home India Ministry of Corporate Affairs In exercise of the powers conferred by sections 396, 398, 39...
Date: 2019-07-25 Category: Extra Ordinary State: Union Government Country: India

In exercise of the powers conferred by sections 396, 398, 399, 403 and 404 read with subsections

Issued by Ministry of Corporate Affairs · Not Applicable

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Executive Summary & Key Takeaways

Executive Summary: This notification from the Ministry of Corporate Affairs amends the Companies Registration Offices and Fees Rules, 2014. It introduces changes to fees for filing e-Form DIR-3 KYC or DIR-3 KYC-WEB. The rules come into force on the date of publication in the Official Gazette (July 25, 2019). Key Points / Main Content: Amendments: * The Companies Registration Offices and Fees Rules, 2014 are further amended. Fees for e-Form DIR-3 KYC/KYC-WEB: * Item VII in the Annexure of the Companies Registration Offices and Fees Rules, 2014, is substituted with updated fee rules for filing e-Form DIR-3 KYC or DIR-3 KYC-WEB. * A fee is payable until the 30th of September of every financial year for e-form DIR3 KYC or DIR3 KYC WEB through web service for the immediate previous financial year, subject to serial number iii. * A fee of Rs. 5000 is payable in delayed cases. * A fee of Rs. 5000 is payable if an individual fails to file e-form DIR3 KYC or DIR3 KYCWEB through web service for the immediate previous financial year in a delayed case. Impact Analysis: Individuals Required to File DIR-3 KYC: * Impact: Individuals filing e-Form DIR-3 KYC or DIR-3 KYC-WEB will be subject to the new fee structure. * Action Required: Pay the applicable fee by the specified deadline (September 30th of every financial year) to avoid additional charges. Companies: * Impact: Companies need to be aware of the revised fee structure for their directors' KYC compliance. * Action Required: Ensure directors are informed of the new rules and comply with the filing requirements within the stipulated time frame.

Key Entities Referenced

Ministry of Corporate Affairs: The Indian government ministry responsible for administering the Companies Act 2013 and other laws related to corporations. Companies Act, 2013: An Act of the Parliament of India that regulates Indian companies. Companies Registration Offices and Fees Rules, 2014: Rules pertaining to the registration of companies and associated fees under the Companies Act, 2013. Companies Registration Offices and Fees Fourth Amendment Rules, 2019: Amendment rules to the Companies Registration Offices and Fees Rules, 2014. New Delhi: The location where the notification was issued, New Delhi, Delhi. K. V. R. Murty: Jt. Secy. (Joint Secretary) at Ministry of Corporate Affairs. DIR3 KYC: e-form DIR3 KYC (Know Your Customer) to be filed by Directors as per Companies Appointment and Qualification of Directors Rules, 2014. Mayapuri, New Delhi: Location of the Government of India Press in Delhi, India
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