Company Incorporation in India – Simplified Procedure
Simplified procedures for Company Incorporation in India (w.e.f. 23rd Feb’20)
As part of Ease of doing business, Govt of India has introduced a new and simplified web form for company incorporation application, called as “SPICe+” (Pronounced as ‘Spice e plus’)
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.
1. SPICe+ webform has 2 forms:
a. PART A: For Name Reservation of New Companies
b. PART B: Offers below list of services
- Incorporation
- DIN allotment
- Mandatory issue of PAN
- Mandatory issue of TAN
- Mandatory issue of EPF and ESIC registration
- Mandatory opening of Bank Account for the company
- Allotment of GSTIN
2. Reservation of Name can be submitted in Part A and thereafter Part B can be submitted for incorporation and other services. Users can also submit Part A and Part B at one go.
3. A new and user-friendly Dashboard on the Front Office is being created for company incorporation application (SPICe+ and linked forms as applicable).
4. 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.
5. 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, to enable easy resubmission, wherever required.
6. From 23rd February 2020 onwards, RUN service would be applicable only for ‘change of name’ of an existing company.
7. All Check form and Pre-scrutiny validations (except DSC validation) will happen on web-form itself.
8. 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.
9. 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.
10. DSC validation and other validations will happen at Upload Level.
