Ready Reckoner on SPICe+ Integrated Web Form for company Incorporation

Introduction:

As part of Government of India’s Ease of Doing Business (EODB) initiatives, the MCA  would be shortly notifying & deploying a new Web Form ‘SPICe+’ (pronounced ‘SPICe Plus’) replacing the existing SPICe form.

SPICe+ , structured into various sections, would offer 10 services thereby saving many procedures, time and cost for Starting a Business in India and would be applicable for all new company incorporations w.e.f 15th February 2020.

From 15th February 2020 onwards, RUN service would be applicable only for ‘change of name’ of an existing company.

Effective date: February 15, 2020

Key Features:

1. SPICe+ would be an integrated Web Form.

2. SPICe+ would have two parts viz.:

Part A-for Name reservation for new companies and

Part B– offering a bouquet of services viz. :

(i) Incorporation

(ii) DIN allotment

(iii) Mandatory issue of PAN

(iv) Mandatory issue of TAN

(v) Mandatory issue of EPFO registration

(vi) Mandatory issue of ESIC registration

(vii) Mandatory issue of Profession Tax registration(Maharashtra)

(viii) Mandatory Opening of Bank Account for the Company and

(ix) Allotment of GSTIN (if so applied for)

3. Users may:

(i) either choose to submit Part-A for reserving a name first and thereafter submit Part B for incorporation & other services or

(ii) file Part A and B together at one go for incorporating a new company and availing the said bouquet of services.

4. Incorporation applications (Part B) after name reservation (In Part A) can be submitted as a seamless process in continuation of Part A of SPICe+. There won’t be any need to enter the SRN of the approved name as the approved Name will be prominently/evidently displayed on the Dashboard and a click on the same will take the user for continuation of the application through a hyperlink that will be available on the SRN/application number in the new dashboard.

5. Resubmission: Resubmission of applications for company name reservation and/or incorporation shall also be handled through the application number/Name applied for link on the new dashboard. A hyperlink will be available for the SRN/application number, so as to enable easy resubmission, wherever required.

6. The approved name and related incorporation details as submitted in Part A, would be automatically pre-filled in all linked forms also viz., AGILE-PRO, eMoA, eAoA, URC1, INC-9 (as applicable)

7. Affixing DSC: Once the SPICe+ is filled completely with all relevant details, the same would then have to be converted into pdf format, with just a click of the mouse button, for affixing DSCs. All digitally signed applications can then be uploaded along with the linked forms as per the existing process.

8. Changes/modifications: Changes/modifications to SPICe+ (even after generating pdf and affixing DSCs), can also be done by editing the same web form application which has been saved, generating the updated pdf affixing DSCs and uploading the same. DSC validation and other validations will happen at Upload Level.

Mandatory registrations while incorporating a Company:

• Registration for PAN and TAN
• Registration for EPFO and ESIC shall be mandatory for all new companies incorporated w.e.f 15 February 2020 and no EPFO & ESIC registration nos. shall be separately issued by the respective agencies.
• Registration for Profession Tax shall also be mandatory for all new companies incorporated in the State of Maharashtra w.e.f 15th February 2020.
• All new companies incorporated through SPICe+ (w.e.f 15th February 2020) would also be mandatorily required to apply for opening the company’s Bank account through the AGILE-PRO linked web form.

Conclusion:

This initiative integrates the company incorporation procedure, post incorporation registrations, opening of Bank Account, therefore, introduced to reduce the paperwork and looks time efficient.

The existing process and timeline of incorporation of companies may vary accordingly as per the new norms.