MCA Updates: Features of SPICE+ Form which is to be effective from 15th February, 2020

MCA has issued a write-up on features of SPICE+ which will ease the process of registration of Company in India which will be effective from 15th February, 2020

The Ministry of Corporate Affairs is expected to launch a web-based system for company registration in India with the launch of the Spice Plus form (Spice+) with effect from 1st January 2020. This move is aimed to further the ease of doing business in India and is set to revolutionize the way the companies are registered in India.

The application for incorporation of a company whether it is a private limited company, Public Limited Company, One Person Company, Nidhi Company, Section 8 Company or Producer Company is filed to MCA at present by way of uploading a pdf form known as Spice Form. The new form which is named as Spice Plus or Spice + shall be a replacement of the old system of uploading the pdf file. The substantive procedure governing the incorporation of a company is prescribed under section 3 to 22 in Chapter II of the Companies Act, 2013.

MCA on its website has issued a write-up on detailed features of SPICE+ form and the way it will work.

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 Govt.(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 15th 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).

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 15th 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, URC1, INC-9 (as applicable)

10. For ensuring ease while filing, SPICe+ will be structured into various sections.

11. Information once entered can be saved and modified.

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

13. 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.

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

the existing process.

15. 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.

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

17. 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.

18. Registration for Profession Tax shall also be mandatory for all new companies incorporated in the State of Maharashtra w.e.f 15th February 2020.

19. 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.

20. 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:

(i) Total number of subscribers and/or directors is greater than 20 and/or

(ii) Any such subscribers and/or directors has neither DIN nor PAN.

The write can be accessed at this link