Know about New Forms and Procedure for Company Formation

Ease of Doing Business is the first and foremost priority of Government of India. Ministry of Corporate Affairs has recently notified a Web Form called ‘SPICe+’ in place of old SPICeForm.

With effect from 23.02.2020, New SPIC+ Form has startedoffering 10 services by following 3 Central Government Ministries & Departments:

1)Ministry of Corporate Affairs (MCA)

2)Ministry of Labour and Department of Revenue

3)One state Government (Maharashtra)

Its sole purpose is to save procedures, time and associated costs involved for starting a New Business in India. It will be applicable for all new company incorporations.

All about New SPICe+Form

1. What is SPICe+ Form?

SPICe+ is an integrated Web Form.SPICe+ has two parts:

Part A- for Reservation of names for new companies and

Part B- Offers various services viz.

(i) Incorporation process

(ii) Director Identification Number (DIN) allotment

(iii) Mandatory issue of PAN – No need to apply for PAN seperately

(iv) Mandatory issue of TAN – No need to apply for TAN seperately

(v) Mandatory issue of EPFO registration – No separate registration required

(vi) Mandatory issue of ESIC registration – No separate registration required

(vii) Mandatory issue of Profession Tax registration(Only in the state of Maharashtra)

(viii) Mandatory Opening of Bank Account for the Company (From the list of banks) and

(ix) Allotment of GST registration (if applied)

The new web form facilitates on-screen filing and real time data validation for seamless incorporation of companies.

2. How to fill SPICe+ Form?

Users have two options to fill the form:

First to submit Part-A for reserving new companies name and thereafter submit Part-B for incorporation process and availing other services as may be required

Second to submit Part-A and Part-B together at one go for the incorporation of a new company and availing range of services as above.

In our opinion it is better to proceed step by step i.e. first submit Part-Athen after name approval proceed with submission of Part-B.

A new and easy dashboard has been developed for the application of incorporation process of new companies(SPICe+ and other linked forms as applicable).

3. How incorporation application is submitted after approval of name in Part-A?

After getting approval of name in Part-A, Incorporation application can be submitted seamlessly in continuation of Part-A of SPICe+ Form. Stakeholders are not even required to 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.

4. How to make resubmission of application?

Resubmissions of applications for company name reservation and/or incorporation are 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.

5. Is RUN Form still active?

From 23rd February 2020 on wards, RUN service is not applicable for reserving name of company, however it is still applicable only for ‘change of name’ of an existing company.

6. Is user required to fill details in Linked forms also if already filled in Part-A?

The user is not required to fill the same details in the linked forms again. 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, URC- 1, INC-9 (as applicable)

7. How SPICe+ is easy to file?

For better easiness of filing, SPICe+is framed into various sections. Information which has been entered can be saved and modified accordingly.

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

8. How digital signatures are affixed?

SPICe+ is required to be converted into pdf form after filling all the relevant information and details for affixing digital signatures.

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

9. Are any changes/modifications possible after pdf generation and digital signatures?

If for any reasons you want to do some changes in the form, the same is allowed even after pdf generation and affixing DSCs. This can be done simply by editing the existing saved form application. After all such changes you can proceed with uploading of changed form by saving the edited form, generating pdf and signing of form again with DSCs.

Also, read “Why is it important to have a Chartered Accountant while setting up a new business?“

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

10. Does EPFO/ESIC registrations mandatory for all new companies?

Registration for EPFO and ESIC shall be mandatory for all new companies to be incorporated through SPICe+ w.e.f 23rd February 2020 and no EPFO & ESIC registration nos. shall be separately issued by the respective agencies.

11. Does Profession Tax registration mandatory for all companies?

Registration for Profession Tax is mandatory for all new companies to be incorporated in the State of Maharashtra through SPICe+ w.e.f23rdFebruary 2020.

12. Does opening of Bank Account mandatory for new companies?

All new companies incorporated through SPICe+ w.e.f 23rd February 2020 would also be mandatorily required to apply for opening the company’s Bank account through the AGILE-PRO linked web form.

13. How declaration of Subscribers/Directors in INC-9 be submitted?

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 wheretotal number of subscribers and/or directors is greater than 20 and/or any such subscribers and/or directors have neither DIN nor PAN.

If you want to form a new company in Delhi and getting difficulties, you can approach Manish Anil Gupta & Co at manishanilgupta.com and get the best consultancy.

Also, read “All you need to know about GSTR-9“