OurBuzz
17th Edition of KGJS inaugurated at Kochi
The 17th Edition of Kerala Gem and Jewellery Show, running from 6th – 8th, December 2024, was inaugurated at Adlux International Convention Centre, Kochi by Chief Guests Shri TS Kalyanraman, Chairman – Kalyan Jewellers and Shri B. Govindan, Chairman – Bhima Jewellery in the presence of Guests of Honour Dr T A Sharavana, Member of Karnataka Legislative Council, Rajesh Kalyanaraman, Executive Director, Kalyan Jewellers, Rajiv Jain, Hon Sec – JJS, Ba Ramesh, Jt MD- Thangamayil Jewellery Ltd, PV Jose, Managing Partner- KGJS, Sumesh Wadhera, Partner-KGJS, Kranti Nagvekar, Partner- KGJS and dignitaries from the GJ industry.
BrandBuzz
MCA raises “small company” thresholds – up to ₹10 cr capital & ₹100 cr turnover from 1st December 2025, major relief for jewellery trade
In a landmark decision that will significantly ease compliance for thousands of jewellery businesses across India, the Ministry of Corporate Affairs (MCA) has revised the definition of “Small Company” under the Companies Act, 2013, effective 1st December 2025.GJC published and sent out this important update to the jewellery trade.
New Eligibility Criteria (both conditions to be satisfied):
- Paid-up Share Capital : ≤ Rs.10 Crore (earlier Rs.4 Crore)
- Annual Turnover : ≤ Rs.100 Crore (earlier Rs.40 Crore) (as per the latest audited financial statements)
Any company exceeding even one of the above limits will cease to be a Small Company.
Key Benefits for Jewellers (Private Limited & Family-Owned Firms):
- Only 2 Board Meetings required in a year
- Exemption from mandatory Internal Audit in most cases
- Substantially lower penalties for defaults
- Simplified Annual Return via Form MGT-7A
- No need to prepare Cash Flow Statement in financials
- Exemption from mandatory Auditor Rotation – continue with existing trusted auditors
- Reduced overall compliance cost and administrative burden
GJC advised jewellery firms to immediately review their Paid-up Capital and Turnover for FY 2024-25 to confirm eligibility and start availing the relaxations from the current financial year itself.
MCA raises “small company” thresholds – up to ₹10 cr capital & ₹100 cr turnover from 1st December 2025, major relief for jewellery trade
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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.