GST, note ban fail to dent monthly registration of companies

Despite painful impact of demonetisation followed by the goods and services tax (GST), monthly registration of companies has increased during December 2015  to December 2017, said a Ministry of Corporate Affairs report.

Registration of companies has increased 8.4% in December 2017 over the previous month. A total of 2,870 LLPs were registered in December 2017 as compared to 2,308 LLPs in December 2016. 

A total of 8,547 companies were registered in December 2017 compared to 8,232 in December 2016.

Total number of companies registered in the country as of December 31, 2017, stood at 1,720,682. 

Of them, 537,556 companies were closed; 1,155 companies assigned dormant status as per the Companies Act, 2013; three companies have not filed their annual statutory filing for two years consecutively.

According to the report, 5,976 firms were under liquidation, 32,109 were in the process of being struck-off and 111 were in the process of being re- activated. 

Taking the above facts into account, there were 1,143,772 active companies as of December 31, 2017.