Key features of SPICe+ for Greater Ease of Doing Business


Key features of SPICe+ for Greater Ease of Doing Business

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

SPICe+ would offer 10 services by 3 Central Govt Ministries & Departments (Ministry of Corporate Affairs, Ministry of Labour & Department of Revenue in the Ministry of Finance) 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.

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 either choose to submit Part-A for reserving a name first and thereafter submit Part B for incorporation & other services or file Part A and B together at one go for incorporating a new company and availing the bouquet of services as above.

4. A new and user friendly Dashboard on the Front Office is being created for company incorporation application (SPICe+ and linked forms as applicable).

Key features of SPICe+ for Greater Ease of Doing Business

5. Incorporation applications (Part B) after name reservation (In Part A) can be submitted as a seamless process in continuation of Part A of SPICe+. Stakeholders will not be required to even enter the SRN of the approved name as the approved Name will be prominently 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.

6. 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.

7. From 23rd February 2020 onwards, RUN service would be applicable only for ‘change of name’ of an existing company.

8. The new web form would Facilitate On-screen filing and real time data validation for seamless incorporation of companies.

9. 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, URC- 1, INC-9 (as applicable)

10. For ensuring ease while filing, SPICe+ will be structured into various sections. Information once entered can be saved and modified.

11. All Check form and Pre-scrutiny validations (except DSC validation) will happen on web- form itself.

12. 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.

13. All digitally signed applications can then be uploaded along with the linked forms as per the existing process.

14. 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.

15. DSC validation and other validations will happen at Upload Level.

16. Registration for EPFO and ESIC shall be mandatory for all new companies to be incorporated through SPICe+ w.e.f 23rd February 2020 and no EPFO & ESIC registration nos. shall be separately issued by the respective agencies.

17. Registration for Profession Tax shall also be mandatory for all new companies to be incorporated in the State of Maharashtra through SPICe+ w.e.f 23rd February 2020.

18. All new companies incorporated through SPICe+ w.e.f 23rd February 2020 would also be mandatorily required to apply for opening the company’s Bank account through the AGILE-PRO linked web form.

19. Declaration by all Subscribers and first Directors in INC-9 shall be auto-generated in pdf format and would have to be submitted only in Electronic form in all cases, except where:

Total number of subscribers and/or directors is greater than 20 and/or any such subscribers and/or directors has neither DIN nor PAN.

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Tags : Company Law

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