Key features of SPICe+ for Incorporation of New Companies in India (23/02/2020)

-

Key features of SPICe+ for Greater Ease of Doing Business

MCA has amended Companies (Incorporation) Rules, 2014 and new rule will be effective from 23/02/2020 called Companies (Incorporation) Amendment Rules, 2020.

spice form upload sequence

As part of Government of India’s Ease of Doing Business (EODB) initiatives, the Ministry of Corporate Affairs would be shortly notifying & deploying a new Web Form christened ‘SPICe+’ (pronounced ‘SPICe Plus’) replacing the existing SPICe form.

SPICe+ would save 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

Key Features of Spice+

1.  SPICe+ would be an integrated Web Form. i.e. fill form online like GST registration forms. The new web form would Facilitate On-screen filing and real time data validation for seamless incorporation of companies.

2.  Information once entered can be saved and modified. All Check form and Pre-scrutiny validations  will happen on web form itself.

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

4.  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.

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

6.  Changes/modifications to SPICe+ (even after generating pdf and affixing DSCs), can also be done by editing the same web form

7.  Spice+ would have 2 parts:

  a)     Part A : for name reservation for new incorporation
  b)     Part B : Part B offering a bouquet of services i.e.
  • Incorporation
  • DIN allotment
  • Mandatory issue of PAN / TAN
  • Mandatory issue of EPFO / ESIC registration
  • Mandatory issue of Profession Tax registration (Maharashtra)
  • Mandatory Opening of Bank Account for the Company
  • Allotment of GSTIN (if so applied for)

8.  Part A can be filed first for reserving name or Part A & B can be filed together at one go.

9.  Re submission would be easy, if required.

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

11.  Registration for Profession Tax shall also be mandatory for all new companies incorporated in the State of Maharashtra w.e.f 23rd February 2020.

12.  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.  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:
  • Total number of subscribers and/or directors is greater than 20 and/or
  • Any such subscribers and/or directors has neither DIN nor PAN
14. Spice+ forms along with other applicable linked form needs to be uploaded in following sequence:
SPICe+ >> e MOA[if applicable] >> e AOA[if applicable] >> URC-1[if applicable] >> AGILE-PRO[mandatory in all the cases] >>INC-9[if applicable] 

#Updated till 23rd February 2020
Source
http://www.mca.gov.in/Ministry/pdf/rule_22022020.pdf
http://www.mca.gov.in/MinistryV2/SPICePlusFAQs.html

Comments

Post a Comment

Popular posts from this blog

PF payment due dates for the FY 2020-21 for tax audit reporting

-
Image
PF payment due dates for the FY 2020-21 for the purpose of tax audit reporting While preparing Tax Audit Report in Form 3CD it is important to fill due date of payment to various Employees contribution fund and actual payment of the contribution. i.e  "Details of contributions received from employees for various funds as referred to in section  36(1)(va)" Most commonly reported funds under the clause are EPF and ESIC. If there is delay in the payment of the contributions of PF and ESI may result in disallowance of the payment of contribution. Here is the chart of the due dates under EPF and ESIC for the FY 2020-21 for quick reference  PF payment due dates for the FY 2020-21 Period Due date Day Extended date Reference Apr-20 15/05/2020 Friday                                -                           -   May-20 15/06/2020 Monday                  
Continue Reading

PF payment due dates for the FY 2021-22 for reporting u/s 36(1)(va)

-
Image
PF payment due dates for the FY 2021-22 for the purpose of tax audit reporting Reporting under clause 20 (b) of Form 3CD requires due dates of payment to various Employees contribution fund. i.e  "Details of contributions received from employees for various funds as referred to in section  36(1)(va) " Here " due date " means the date by which the assessee is required as an employer to credit an employee's contribution to the employee's account in the relevant fund under any Act, rule, order or notification issued thereunder or under any standing order, award, contract of service or otherwise. Most commonly reported funds under the clause 20(b) are EPF and ESIC. If there is delay in the payment of the contributions of PF and ESI result in disallowance of the payment of contribution. Here is the chart of the due dates under EPF and ESIC for the FY 2021-22 for quick reference. PF payment due dates for the FY 2021-22 Period Due date Day
Continue Reading

Format of shorter notice consent for AGM (Annual General Meeting)

-
Image
Format of shorter notice consent for AGM (Annual General Meeting) Background The Companies Act mandates companies to issue a notice to members calling a general meeting at least 21 clear days before the date of the meeting. Sometimes, the matters in urgency require quick decision making and in such circumstances, the companies may go for calling general meetings at shorter notice. However, in case of the private limited companies the period can be less than 21 days as provided in the Articles of Association (AOA). Provision and Rule As per the provisions of Section 101 (1) of the Companies Act, 2013, every general meeting of a company may be called by giving not less than twenty-one days clear notice in writing or through electronic mode in such manner as provided under Rule 18 of Companies (Management and Administration) Rules 2014. What is Consent for shorter notice? It is permission obtained by the company from its shareholders, in advance, to call a general meeting at an earlier da
Continue Reading

PF payment due dates for the FY 2022-23 for reporting u/s 36(1)(va)

-
Image
PF payment due dates for the FY 2022-23 for the purpose of tax audit reporting Reporting under clause 20 (b) of Form 3CD requires due dates of payment to various Employees contribution fund. i.e  "Details of contributions received from employees for various funds as referred to in section  36(1)(va) " Here " due date " means the date by which the assessee is required as an employer to credit an employee's contribution to the employee's account in the relevant fund under any Act, rule, order or notification issued thereunder or under any standing order, award, contract of service or otherwise. Most commonly reported funds under the clause 20(b) are EPF and ESIC. If there is delay in the payment of the contributions of PF and ESI result in disallowance of the payment of contribution. Here is the chart of the due dates under EPF and ESIC for the FY 2022-23 for quick reference. PF payment due dates for the FY 2022-23 Period Due Date Day Extended D
Continue Reading

Letter of Authority for Tax Practitioners (Income tax)

-
Image
LETTER OF AUTHORITY I/We ________________ Proprietor/Partner/Director of _______________________ hereby authorize Mr/Mrs/ CA __________________________ [   to appear, represent and settle on my/our behalf the Income tax assessment proceeding/s before the Income tax officer / Assistant/Dy. / Commissioner of Income tax or in appeal before the Appellate Assistant Commissioner of Income   Tax, Commissioner of Income tax (Appeal) or the Appellate tribunal or the Board of Direct taxes for the assessment year 20XX-XX and   [ to produce accounts and documents / statements and to receive on my/our behalf any notice or documents / statements issued in connection with the said proceedings ] or/and [ to apply for, obtain and receive refund order in respect of the said assessment (if any) and ] or/and [ to apply for copies of the Income tax assessment order, the Appellate order or the order of the Commissioner of Income tax, the Central Board of Direct-taxes ] . I/
Continue Reading