Compliance of FPC

1. COMPLIANCES OF FARMER PRODUCER
COMPANIES(FPC)
Prepared By: CA WARSI
Partner(Warsi & Associates)
Lalbagh, Lucknow
+91 9840386707

3. MANAGING STATUTORY &
REGULATORY COMPLIANCES OF FPOs

4. STATUTORY
REGULATORY
Statutory requirement
is an established rule
by law, like copyright,
trademark protections,
Companies Act, Income
Tax.
A regulatory requirement is
established by government
agencies. Regulatory
requirements derive from
regulations, which have
been put in place by
government agencies

5. GST
Shops &
Establishment
Act

6. Regulatory Compliances of FPOs:
IEC Code
Fertilizer &
Pesticide
Licence
Mandi Licence
FSSAI
APEDA

7. MANDATORY COMPLIANCE/ ANNUAL COMPLIANCE:
Appointment of Auditor: Pursuant to Section 139 of the Companies Act, 2013, every company
shall, at the first annual general meeting, appoint an individual or a firm as an auditor.
Statutory Audit of Accounts: Every Company shall prepare its Accounts and get the same
audited by a Chartered Accountant at the end of the Financial Year compulsorily. The Auditor shall
provide an Audit Report and the Audited Financial Statements for the purpose of filing it with the
Registrar. The same will be filed with the Income Tax authority by the Chartered Accountant.
Filing of Annual Return (e-form MGT-7): Pursuant to Section 581ZA (9) of the Companies Act
the proceedings of every annual general meeting along with the Directors’ Report, the audited
balance sheet and the profit and loss account shall be filed with the Registrar within sixty days
of the date on which the annual general meeting is held, with an annual return along with the
filing fees as applicable under the Act. Annual Return will be for the period of 1st April to 31st March.
Filing of Financial statements (e-form AOC-4): Every Company is required to file its financial
statements, Auditor report along with Director’s report by uploading on MCA portal e-form AOC4
within 30 days of holding of Annual General Meeting.

8. Annual Compliances Specific to FPO
Form Name Compliance Due Date Penalty
INC20 A
To Provide information to ROC that company has
collected the agreed paid up capital within 6
months from the date of Incorporation.
Within 180 Days from the
date of Incorporation. Rs.5200
KYC-DIR 3
To Provide information to ROC that the Director
is active and Alive
Once in a year-30th Sept
Every Year Rs.5000 Per Director
Company Audit &
Misc Work.
Audit of Company by a Chartered Accountant
along with financials preparation.
Once in a year-30th Sept
Every Year Rs.150,000 Per Company
ADT-01 Auditors Appointment
Within 30 Days from date
of incorporation and as
and when required Rs.5200( Variable)
AOC-04
Form for providing information related
to financial transactions which the company has
done during the relevant
F.Y to MCA through form filed on ROC
Within 30 days from AGM Rs.5200 + 100 Per Day from
30/09/2022
MGT-07
Form for providing information related to Fund
raised which the company has
done during the relevant F.Y to MCA through
form filed on ROC. Within 60 Days from AGM
Rs.5200 + 100 Per Day from
30/09/2022
Financial
Preparation
Financial
Preparation Within 30/09/2023 Rs.50,000
ITR Filing Income tax Return Filings Within 30/09/2023 Rs.10,000

9. • Hold first Board Meeting within 30 days from the date of incorporation.
* Arrange for Printing of Share Certificate Books/Combined Statutory
Register/Letter heads /Rubber Stamps
* Name and address of the Registered Office along with CIN no./phone
no./email/website address should be printed on all letter heads, bill heads, notices
and correspondence of the Company
* Name and address of the Registered Office should be painted or affixed on the
outside of every office of the Company in a very conspicuous manner.
• Any amendment to AOA or MOA can be carried out only by special
resolution in a general meeting i.e., 75% of the members present and
voting should approve the resolution.

10. Files to be Maintained:
1. Monthly Action Plan 1. मासिक कार्यर्ोजना
2. Daily Register 2. दैसनक रसजस्टर
3. Stores Register 3. भण्डार पंजी
4. Attendance Register 4. उपस्थिसि पंजी
5. Visitor Register 5. सिसजटर रसजस्टर
6. Board Meeting Register 6. बोर्य मीसटंग रसजस्टर
7. Sell Register 7. िेल रसजस्टर
8. Asset Register 8. ऐिेट ( िम्पसि) रसजस्टर
9. Credit register 9 . उधार रसजस्टर
10. Producer group register 10 . उत्पादक िमूह रसजस्टर
11. Letter Issue Register 11. पत्र सनगयि रसजस्टर
12. GST File 12. GST फाइल
13. MOA & AOA File 13. MOA एिं AOA फाइल
14. Bank Statement & Deposit Slip 14. बैंक स्टेटमेंट एिं जामा पर्ची
15. Shareholders Register 15. शेर्र धारक रसजस्टर
16. Expense Register 16. खर्चय रसजस्टर
18. Dealers File 18. सर्लर फाइल
19. Paddy & Whaet Advance Booking Register 19. धान असिम बुसक
ं ग रसजस्टर
20. List of Prospective Farmers Who Will Sell Wheat 20. िम्भासिि सकिानों का सलस्ट जो गेहुँ बेर्चेंगे
21. List of Board of Directors & KYC Paper 21. सनदेशक मंर्ल का िूर्ची एिं KYC पेपर
22. Cheque Book Issue Register 22. र्चेक बुक इश्यू रसजस्टर

11. TYPES OFCOMPANY MEETINGS:
1. Board Meeting
2. Meeting of Shareholders
3. Meeting of Creditors
4. Meeting of Debenture-holders

13. ■ There should be a Board Meeting once in three months
and four such meetings should be held in a year.
■ 1 weeks’ notice in writing, should be given by CEO for
holding a Board Meeting to all the directors in India.
■ The quorum for a Board Meeting is 1/3rd of the total
strength or 3 whichever is higher.
■ The Board of Directors shall be paid fees, for attending
each meeting subject to AOA and approved by general
meeting.
■ Minutes of the proceedings of the Board Meetings shall be
prepared and entered in to Minutes Books within 30 days
of the meeting.

14. • Meetings of shareholders/board of directors/AGM/Extra Ordinary
General Body meeting etc. are meant for discussing agendas like:
1.Preparation of business plan
2. Reviewing progress of FPO in terms of activity expansion
3. Strategic decisions like which crop/breed of animal to be
cultivated/adopted in next season/cycle.
4. Measures to enhance profitability of FPO & income of farmers
5. Share capital contribution (enhancement/reduction etc.)
6. Dividend payout
7. Borrowings from Bank
8. Deciding on rates to be charged to farmers for input supply & rate to be
paid for produce procurement

15. 9.Adoption of accounts
10. Appointment of auditors
11. Periodic review of business plan implementation
12. Review of FPO operations & benefit received by farmers

16. 2.Shareholders Meeting

18. • Financial Books
1.Cash Book
2. Bank Book
3. Bank Reconciliation Statement
4. Journal
5. Ledger
6. Share Capital Register
7. Subsidiary Books
(i) Input(Purchase, Sale & Stock)
Register
(ii) Produce(Purchase, Sale &
Stock) Register
• Non-Financial Books
1.Members’ Profile Register
2. Members’ Progress Register
3. Minutes Book/Register

19. MAJOR STATUTORY FORMS TO BE FILED WITH
ROC UNDER THE COMPANIES ACT, 2013
S.NO FORM Purpose of Filing to ROC
1 INC-22 Intimation of change of registered office
2 INC-24 Application for change of name
3 PAS-3 Return of allotment of shares
4 SH-7 Notice of increase or change in share capital
5 CHG-1
Registration of creation/Modification of Charge on property to secure
repayment of borrowed funds from banks etc
6 CHG-4
Registration of satisfaction of charge on repayment of loan for releasing
the charge
7 MGT-14
Form was introduced with the objective of filing certain resolutions with
the Registrar of Companies.
8 DIR-3 Application for Director Identification No.
9 DIR-11
Notice of resignation of director to be filed by the director
10 DIR-12
Particulars of appointment and changes of directors to be filed by the
company
11 AOC-4 Form for filing of annual accounts annually every financial year
12 MGT-7
Form for filing of annual return of shareholders every financial year

20. S.No Certification/Licence Issuing Department Renewal Frequency
1 PAN IT Department One time (life time)
2 TAN IT Department One time (life time)
3 GST Goods and service tax One time (life time)
4 Seed Licence Agriculture Department Varies From State to State
5 Fertiliser Licence Agriculture Department Varies From State to State
6 Pesticide Licence Agriculture Department varies for different products
7 Import Export Certificate (IEC) DGFT One time (life time)
8 APEDA Ministry of Agriculture One time (life time)
9 FSSAI
Ministry of Food
Processing
One time (life time)
10 Shops and establishment
Local Gram Panchayat/
Municipality One time (life time)
11 ESI, PF, Child Labour policy Labour Department One time (life time)
12 Mandi Licence APMC,Mandi Samiti Varies From State to State
13
No objection
certificate Local Gram Panchayat/
Municipality Depends on business

21. • 100% of the profits and gains attributable to such business
for the previous year relevant to an assessment year
commencing on or after the 1st day of April, 2019, but
before the 1st day of April, 2025.
• However Applicability of MAT(Minimum Alternate Tax) will
be inforce for all the companies

22. Asst Year
Tax Payable
Under
MAT(15%)
Tax Payable
as per
Normal
Provisions
Actual Tax
Payable
Tax Credit
u/s 115JAA
Tax Credit Set
off/ adjusted
Total tax
Credit
Available
2022-23 8,00,000 5,00,000 8,00,000 3,00,000 - 3,00,000
2023-24 9,00,000 6,50,000 9,00,000 2,50,000 - 5,50,000
2024-25 10,00,000 7,00,000 10,00,000 3,00,000 - 8,50,000
2025-26 7,00,000 10,00,000 7,00,000 - 3,00,000 5,50,000
2026-27 6,00,000 11,00,000 6,00,000 - 5,00,000 50,000

23. Contact:
CA WARSI
Mobile: +91 9840386707
Email:
cawarsi05@gmail.com