According to The World Bank’s Ease of Doing Business 2020 survey, “India stand at 63, among 190 countries, making it one of the world’s top 10 most improved countries for the third consecutive time.”
Among other improvements, the Ministry of Corporate Affairs (MCA) has fueled the Government of India’s (GoI) ease of doing business initiative. The MCA has launched a webform called SPICe+, often referred to as SPICe Plus.
What is an MCA SPICE+ form?
Simplified Proforma for Incorporating a Company Electronically (SPICe) is an application form used for registering or incorporating a company under MCA portal.
To better incorporate or revolutionise the way companies are registered in India, SPICe+ form will offer ten services by three Central Government Ministries and Departments. This integrated web form will save many lengthy procedures, save time and cut expenditures for starting a new business in India (Applicable from 15th February 2020).
Introduction to Web-based SPICe + Filing Form under MCA
SPICe Plus apart from being an advanced version of the existing SPICe, the form is capable of serving multiple requirements like name reservation, incorporation, DIN allotment, mandatory issue of PAN, TAN, EPFO, ESIC, Profession Tax (Maharashtra) and Opening of Bank Account. One can even acquire the GSTIN via SPICe + form.
Now Reserve Unique Name of RUN is significant only if a company wishes to replace its existing name with the new one.
What are the features of SPICe+ form?
The SPICe+ form has been divided into two parts:
Part A – Name reservation for new companies
Part B – To offer a bouquet of services:
(i) Registration of company;
(ii) Allotment of DINs;
(iii) Issuance of PAN card;
(iv) Issuance of TAN;
(v) Issuance of EPFO registration;
(vi) Issuance of ESIC registration;
(vii) Issuance of Profession Tax registration (only for Maharashtra);
(viii) Opening of Bank Account; and
(ix) GST registration (if applied)
Hence one can say that it is a great initiative in ease of doing business in India.
KEY FEATURES OF FORM SPICE+:
Spice+ would offer 10 services by 3 Central Government Ministries & Departments and One state Government (Maharashtra), thereby saving as many procedures, time and cost for starting a Business in India and would be applicable for all new company incorporations w.e.f 23rd February 2020.
Spice+ form allows users to choose and submit Part-A for reserving a name first, and later they can provide Part B for incorporation and other services. Users can also file Part A and B together for incorporating a new company and availing other services.
A brand new user-friendly dashboard on the Front Office is in the works for company incorporation application (SPICe+ and linked forms as applicable)
Incorporation applications (Part B) after name reservation (Part A) can be submitted in continuation of Part A of SPICe+. Stakeholders will not be required to enter the SRN of the approved name. Because the approved name will be displayed on the dashboard and a click on the same will take the user for the continuation of the application via a hyperlink. Application resubmission request for company name reservation and incorporation shall also be handled through the application number/name applied for the link on the new dashboard. Also, a hyperlink will be available for the SRN/application number to enable easy resubmission.
The approved name and related incorporation details (submitted in Part A) will be automatically Pre-filled in all linked forms (AGILE-PRO, eMoA, eAoA, URC1 and INC-9)
SPICe+ will be structured into various sections to ensure ease while filing.
Entered information can be saved and modified.
All check form and pre-scrutiny validations excluding the DSC validation will happen on the Web form. After the SPICe+ is filled with all details, it is mandatory to convert the same into a PDF format, for affixing DSCs. All digitally signed applications can be uploaded with the linked forms as per the existing norms. Even after generating PDF and affixing DSCs, modifications to SPICe+ can also be done by editing the saved webform application. DSC and other validations will happen at upload level.
Declaration by all subscribers and first directors in INC-9 shall be auto-generated in PDF format (Except for some instances where the total number of subscribers or directors is greater than 20, and if any such subscribers or directors have neither DIN nor PAN)
Registration for EPFO and ESIC shall be compulsory for all newly incorporated companies from 15th February 2020. And, no EPFO and ESIC registration nos. shall be entertained or separately issued.
For profession tax, registration shall also be compulsory for all new companies incorporated in the State of Maharashtra from 15th February 2020.
From 15th February 2020, all new companies incorporated through SPICe+ are required to apply for opening their company’s bank account through the AGILE-PRO linked webform.
Author can be reached at @email@example.com
(Republished with amendments)