SPICE+: The New form for Company Registration

Facts and features: Form SPICE+

  • The Form SPICE+ has been introduced by the Ministry of Corporate Affairs and the government as a step towards ease of doing business in India.
  • It will consist of two parts namely;
  • Part A: For reservation of name for the new companies
  • Part B: For offering various services to the new company registrations.
  • The bouquet of services provided through Part B of the Form SPICE+ are as follows:
  • Incorporation of the company
  • Allotment of Director Identification Number (DIN)
  • Mandatory issue of the Permanent Account Number (PAN)
  • Mandatory issue of Temporary Account Number (TAN)
  • Mandatory EPFO registration
  • Mandatory issue of Profession Tax registration especially in Maharashtra
  • Mandatory Bank Account opening for the Company
  • Mandatory ESIC registration
  • Wherever applicable, allotment of Goods and Services Tax Identification Number (GSTIN)
  • The users have been provided with the option where they can choose to submit Part A of the Form SPICE+ for reserving a name of the company first and then thereafter, they can file in the Part B of Form SPICE+ for availing other offered services.
  • One can also file the Part A and Part B of the Form SPICE+ together at once to incorporate the company as well as avail the services as mentioned above.
  • To ease the steps, the stakeholders are not required to enter the Service Request Number (SRN) of the approved name of the company because the approved name will be shown and displayed on the dashboard of the portal. The user has to click on the same to continue the application. This is can be done with the hyperlink that will be provided to the users on the SRN or the application number in their respective new dashboard.
  • The RUN Service from 15th February, 2020 will available and applicable only for the existing companies who want to change the name of the company.
  • The name that has been approved by the ministry and all the details related to the incorporation as submitted by the applicant in Part A of the Form SPICE+ will be pre-filled in the other linked forms automatically. These form includes-
  • AGILE-PRO
  • e-MOA
  • e-AOA
  • URC-1
  • Form INC-9
  • With effect from 15th February 2020, for all the new company registrations, EPFO Registration and ESIC Registration will be mandatory. Also, it is to be noted that separate issue of EPFO and ESIC Registration Number will be undertaken by the respective authorities and agencies.
  • With effect from 15th February itself, in the State of Maharashtra it will be mandatory for all the new company registrations to have Registration for Professional Tax.
  • The companies that been incorporated through Form SPICE+ with effect from the above mentioned date will be required to mandatorily apply for opening a bank account on the company’s name for which they have to file in the linked web Form AGILE-PRO.
  • In Form INC-9, a declaration by all the first directors and the subscribers of the company will be generated automatically in a PDF Format. These have to be filed in electronic mode by all the said people except the following-
  • Where the total number of directors and subscribers of the company are above 20 in numbers.
  • Where any of the directors or subscribers is not holding a DIN and a PAN.

 

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    Author: Anil Agrawal
    EZYBIZ India Consulting LLP, New Delhi. The firm is business and tax consultancy firm providing consultancy in Taxation, Regulatory, Transfer pricing, Valuation, Corporate funding and Business set up matters. He may be reached at 9899217778 or anil@ezybizindia.in.
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