MCA (ministry of corporate affairs) introduced a new form to incorporate companies under the EODB (ease of doing business) initiative. The SPICE+ form is known as specified proforma for incorporating a company electronically.
Define the SPICE+ form
It is a unified web form that provides ten services at one go. Therefore, it saves time and cost along with simplifying the process of initiating the business in India. This form offers the facility to electronically incorporate any company, including OPC, private company registration, producer company, Nidhi company, section 8 company, etc., under the MCA.
New SPICE+ will replace the old form. Earlier, MCA SPICE INC 32 form helped reserve the name, incorporate the new company, and apply for DIN (director identification number). At the same time, the new SPICE+ has numerous things to offer.
Features of the SPICE+ form
SPICE+ form provides ten services. And it splits into two parts – A and B.
Part A offers an individual with the facility of name reservation for the new company.
Part B involves other nine services that are as follow –
- Incorporation of the company.
- Allotment of director identification number (DIN).
- Allocation of PAN of the company.
- Registration for ESIC.
- Registration for EPFO.
- Allocation of TAN of the company.
- Registration of professional tax (Maharashtra).
- Opening the bank account of the company.
- Allocation of GSTIN for the company.
Other essential updates
– SPICE+ form enables the user to select and file part A for reserving the company’s name. And part B for offering incorporation and other services. Users can submit parts A and B to incorporate the new company and benefit from other services.
– The brand-new user-friendly database on the front office will be used for company incorporation applications (SPICE+ and applicable, linked forms).
– Incorporation application (part B) after reserving the name (part A) can be filed in continuation of part A of SPICE+. Stakeholders will not have to enter the SRN of the approved name. Because the approved name will be shown on the dashboard, a click on the same will direct the user to continue the application through a hyperlink.
– Application resubmission requests for the company incorporation and name reservation will be handled via the application name/number applied for the link on the new dashboard. A hyperlink will also be there for the SRN or application number to allow easy resubmission.
– Initiating from 15th of February 2020 RUN service will be applicable only for changing the name of an existing company.
– A new web form will also facilitate on-screen submission and real-time data validation for smooth and errorless incorporation of companies.
– The sanctioned name and concerning information (filed in part A) will be automatically pre-filled in all the linked forms. (Such as eMoA, eAoA, AGILE-PRO, URC1, and INC-9).
– AGILE-PRO replaced the AGILE form by which the company will have to apply for EPFO, bank account, ESIC mandatorily while submitting the SPICE+ form of the company.
– Registration of ESIC and EPFO has become compulsory for companies incorporated on/after the 15th of February 2020.
– Structures will make the SPICE+ form easier to submit.
– User can save and modify the entered information.
– All the pre-scrutiny validations and check forms excluding DSC validation will occur on the web form.
– After the successful submission of SPICE+ with details, it is compulsory to convert the same into PDF to affix the DSC.
– User can upload the digitally signed applications with linked forms according to existing rules.
– User can edit the saved details in the webform application, even after generating the PDF and affixing DSC.
– DSC and other relevant validations will happen at the upload level.
– Declaration by first directors and all subscribers in INC-9 will be auto-generated in PDF format. Except in cases where the sum number of directors/subscribers is more than twenty. And such directors and subscribers do not possess DIN or PAN.
Documents required for part B
– Office address’s utility bills (not older than two months).
– PAN of all directors.
– NOC from the property owner.
– Stamped and notarized rent agreement/ lease agreement for the company’s registered office (if applicable).
– ID proof of directors and subscribers.
– Address proof of directors and subscribers.
– ID and address proof of applicant 1,2,3 in case applying for directors’ DIN.
– Consent to act as a director, DIR-2.
– Declaration by subscribers and first directors, INC-9.
– Consent of nominee (in case of OPC).
– Director’s interest in other entities with name and LLPIN/CIN/FCRN of amount, entity, designation, and percentage of holding. (If applicable).
According to notice from the MCA, all companies should submit statutory returns whenever they breach the threshold limits under the latest incorporation standards of the SPICE+ form. As mentioned above, these are the updates that one should keep in mind while submitting the SPICE+ form of MCA.