Company Compliance Updates

The Ministry of Corporate Affairs has extended the Companies Compliance Facilitation Scheme to 2026, allowing *MSMEs* and closely held private companies to catch up on pending *ROC filings*. Key aspects of the scheme include:
- Facilitation of compliance with various provisions of the Companies Act
- Reduction of pending filings with the Registrar of Companies
- Relief from additional fees for late filings
Meanwhile, *Hongli Group* has received a *Nasdaq deficiency notice* regarding its share price and has 180 calendar days to regain compliance. The company can achieve compliance if its closing bid price remains at or above $1 for a minimum of 10 consecutive business days.
The *GST Composition Scheme* for FY 2026-27 has been outlined, covering:
- Eligibility criteria for businesses
- Turnover limits for the scheme
- Tax rates applicable to the scheme
- Compliance requirements for participating businesses