SPICE+ ANOTHER INITIATIVE BY GOVERNMENT TO BOOST EASE OF DOING BUSINESS
Spice+ is another great move initiated by the Government of India to promote Ease of Doing Business in India. For the first time, the Government is providing an integrated service wherein 10 services is being provided by the Three Government Department simultaneously while incorporating a Company. This will not only save the time involved in getting all types of registration but will also help to reduce the cost burden of the Company. Further, this will also help the Company to open the bank account with much ease and comfort.
All you need to know about Spice+ to be active from 15.02.2020
Spice+ web based form will integrate the service of the following government departments i.e.
- i) Ministry of Corporate Affairs
- ii) Ministry of Labour & Employment
- iii) Department of Revenue in the Ministry of Finance and
- iv) One State Govt. (Maharashtra)
The Spice+ form is divided in two parts:
a. Part A for reservation of name (which can be filed independently or together with Part B)
b. Part B for incorporation of Company with
- Allotment of DIN to the Directors of the Company
- Mandatory issue of PAN and TAN of the Company
- Allotment of GSTIN only if applied at the time of incorporation
- Mandatory issue of EPFO and ESIC registration (Earlier it was optional)
- Mandatory issue of Professional Tax Registration in the state of Maharashtra (New Service)
- Mandatory opening of Bank Account (New service)
FEATURES OF SPICE+ FORM
The Spice+ form is a web based integrated form which will facilitate On-screen filing and real time data validation for seamless incorporation of companies. Features of the new Spice+ is as follows:
> The facility of filing Spice+ will be available w.e.f. 15th February, 2020 on the Dashboard with other linked form as applicable.
> Spice+ will be linked with other forms in form of various Sections to facilitate the User for smooth incorporation of Companies. The linked form includes the following forms:
- AGILE-PRO (for opening of Bank Account)
- URC1 (in case of conversion of unregistered companies)
- INC-9 (Declaration by Subscriber and First directors to be auto generated in pdf and submitted in electronic form only)
- * Applicable where the number Subscribers and/or Directors is up to 20 and/or
- * Subscribers and/or Directors have either PAN or DIN
- a. For seamless execution of Spice+, Users may fill Part B in continuation of its processing of Part A application for reservation of name. The approved name will be displayed on the Dashboard and the User needs to click the approved name and continue for filing of Spice+ Form.
- b. A hyperlink will be available on the SRN or Application number which will enable easy filing of form in case of name reservation or new application for incorporation as well as re-submission thereof.
- c. Data entered in the form can be saved and modified.
- d. All check form and pre-scrutiny validation will happen in web based form.
- e. DSC will be affixed only after completion of incorporation form and conversion of the web based form into pdf.
- f. Any change in application is to be done through web based service only and generating the updated pdf for affixing DSC.
- g. All forms to be uploaded through linked form facility as per existing process.
- h. DSC validation and other validation will be done online at the upload level.
PROCESS OF FILING SPICE+
- Apply for reservation of Name in Part A
- Prepare and file Part B on reservation of name after clicking the approved name or the hyperlink enable on the SRN or Application number. One can also file Part A and Part B in a single application.
- Part B is divided in various section for applying for
- a) Incorporation of company
- b) Allotment of DIN
- c) Allotment of PAN and TAN of the Company
- d) Issuance of ESIC and EPFO registration
- e) Allotment of GSTIN if applied simultaneously
- f) Application for opening of Bank Account
- g) Application for issuance of Professional Tax registration in the state of Maharashtra
- h) Preparation of INC-9 for Subscribers and First Directors
- On successful filing of relevant data, generate pdf of the application for affixation of DSC.
- Affix DSC of the Applicant and upload through the existing linked form facility.
- DSC and other validation is processed at upload level.
- On successful validation of Data provided, Certificate of Incorporation (COI) of Incorporation is issued to the Company along with all other mandatory registration certificate.
Companies not only save its time and expenses involved in incorporation and registration but will also save there time in opening the current account of the Company. Further note that the resubmission option will available only through the hyperlink enabled on the SRN or Application Number.
The new Spice+ form is providing multi services at the basic level of incorporation of Companies. This will help to ensure smooth incorporation of companies and to obtain various registration in one go. This will reduce the time involved in obtaining such registration separately and also diminish the cost involved therein for making separate application. However, integration of these services at the basic level would not be that much easy. We hope that the new Spice+ will actually provide the facility for seamless incorporation of Companies. For more details you may contact us at firstname.lastname@example.org or +91-8010233173 or visit our website www.complianceship.com.