Statutory filings: MCA’s one-time compliance scheme big relief for defaulting Gujarat firms

Ahmedabad: The ministry of corporate affairs (MCA) has introduced the Companies Compliance Facilitation Scheme, 2026 (CCFS-2026), offering a one-time opportunity for defaulting firms to regularise long-pending statutory filings with substantial relief on additional fees.Industry experts said the scheme would benefit thousands of companies in Gujarat that failed to submit mandatory annual returns and financial statements for several years, leading to hefty penalties. Under existing provisions, companies face an additional fee of Rs 100 per day for each delayed filing. However, under the new scheme, eligible companies will be required to pay only 10% of the accumulated additional fees, along with the normal filing charges.
The scheme will remain open for a three-month window from April 15 to July 15.CS Rajesh Tarpara, central council member of the Institute of Company Secretaries of India (ICSI), said Gujarat has around 1.65 lakh registered companies, of which thousands have pending compliance due to various reasons. "Companies are required to file annual returns within 60 days of the AGM and financial statements within 30 days. Many small companies fail to comply due to ignorance, and as penalties mount, they are unable to afford the accumulated fees. The scheme will provide significant relief and help them become compliant by paying just 10% of the additional fees," he said.Tarpara added that defaulting companies can file pending annual returns and financial statements by paying the normal filing fee and only a fraction of the additional charges.He further said the scheme also offers relief to promoters seeking to strike off their companies. "Those who wish to close their companies can complete the compliance process by paying just 25% of the additional fees, making it easier to wind up operations," he said.Chartered accountant Karim Lakhani said many small companies lack adequate manpower and compliance awareness, resulting in defaults. "This scheme provides a one-time settlement opportunity for such entities to regularise their records and continue business operations without the burden of heavy penalties," he said.