| Payment of ROC fees electronically made compulsory in some cases |
| Friday, 18 September 2009 12:20 | |
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Companies had to use state governments' stamp duty documents for certain purposes such as incorporation of a new company, increase in authorised capital etc. These documents also had to be scanned and uploaded and also physically filed with the Registrar of Companies having jurisdiction. Vide a notification issued on September 9, 2009, the Ministry of Company Affairs [MCA] has revised the procedure and has made it compulsory to make the payment of the duty, on the MCA portal electronically. Once the payment is so made, the companies are not required to make physical submission of such documents on which stamp duty is paid electronically via MCA portal (www.mca.gov.in). The stamp duty so collected by the MCA will be paid to the respective state governments immediately. This arrangement is effective from 13th September 2009. Out of 28 states and 7 union territories, except the State of Sikkim, where the provisions of the Companies Act, 1956 not extended, many of the other states have agreed to the new arrangement. The twelve States and Union territories with which the agreement has not yet been reached are Chandigarh, Daman and Diu, Himachal Pradesh, Kerala, Mizoram, Puducherry, Dadra and Nagar Haveli, Goa, Jammu and Kashmir, Lakshadweep, Nagaland and Tripura. The arrangement has become effective in all other states as on date. There shall be a transition period of 3.5 months to enable Companies to use their already purchased stamp papers. The 1st day of January 2010 shall be the cut off date for the Companies to compulsorily make payment electronically for stamp duty in respect of states which have authorized the Central Government to collect stamp duty on their behalf. Hence, as on date company has option to pay stamp duty both through online as well as physically. The companies shall not make physical submission of documents on which stamp duty is paid electronically through MCA portal. However, documents on which stamp duty is not paid through MCA portal, the companies shall, in addition to their e-filing, submit copies of such stamped documents at the office of the Registrar also, simultaneously. The following are the Forms that are applicable for E-stamping: Form1 (Application and declaration for Incorporation of a Company) Source: MCA Portal |