Ministry Of Corporate Affairs Launches New Refund Form On V3 Portal[1]

Posted On - 28 August, 2023 • By - King Stubb & Kasiva

The Ministry of Corporate Affairs (‘MCA’) has taken a significant step towards streamlining its services and enhancing user experience by introducing a new refund form on the MCA Version 3.0 portal (‘V3 portal’), effective from August 4, 2023. This initiative aims to simplify the refund process for stakeholders while ensuring efficient and transparent procedures.

Stakeholders and businesses across the country will now have access to the newly launched refund form on the V3 portal. This development aligns with the MCA’s commitment to modernizing its systems and providing a seamless experience for those availing various services.

It’s important to note that refund forms will continue to be accessible on the V2 portal as well, specifically for those seeking refunds against forms filed on the V2 portal. This dual availability ensures that stakeholders can conveniently navigate between the two portals based on their specific needs and requirements.

In a notable statistic, the MCA has reported that an impressive total of 19,62,585 forms have been successfully filed on the V3 portal during the period from April 2023 to July 2023. This noteworthy figure underlines the growing reliance on the V3 portal for corporate affairs-related transactions and highlights the increasing digitalization of business processes.

Furthermore, recent data reveals a marked increase in company incorporation forms filed on the V3 portal between April 2023 and July 2023. The figures stand at 1.9 Lakh company incorporation forms during this period, showcasing a substantial rise from the 1.6 Lakh forms filed during the same timeframe in 2022. This substantial growth signifies the enhanced confidence and preference among businesses for the V3 portal’s efficiency and convenience.

The MCA remains committed to continually improving its services and ensuring the ease of doing business in India. With this strategic move, the MCA is set to further empower businesses and individuals in their pursuit of a seamless and efficient business environment.