SPICE+ New Incorporation Form

The Ministry of Corporate Affairs (MCA) vide its notification dated February 18, 2020 has substituted the Rule 9 of Companies (Incorporation) Rules, 2014 and amended the various other provisions of the specified rules through Companies (Incorporation) Amendment Rules, 2020. This form is a part of government’s ease of doing business activities and to make the incorporation process hassle free, cost effective and time saving.

The said amendment has come into effect from February 23, 2020

The form SPICE+ (web form) allows the following ten services:

1. Name Reservation
2. Registration of Company
3. DIN Allotment
4. PAN Allotment
5. TAN allotment
6. EPFO Registration
7. ESIC Registration
8. Profession Tax (Maharashtra only)
9. GST, only if applied
10. Opening of Bank Account

Following are the key highlights:

i. The form SPICE+ is a web form available on mca.gov.in having two parts PART A and PART B. The Part A of the form is for the reservation of fresh name and PART B is for incorporation of a Company. The form SPICE+ can be filed in the following two ways:

  • Name reservation only (Part A)
  • Name reservation and incorporation together (Part A and Part B)

ii.In case the details for name reservation in Part A and the incorporation of the Company in Part B are filed together, then the details filled in Part A of the form shall be auto populated at all places in Part B of the form

iii. Once all the details are filled in web form SPICE+, the said web form shall be converted into a pdf for affixing the DSCs of directors/ subscribers for the purpose of filing the form

iv. The name change for an already existing company shall be done through the RUN (Reserve Unique Name) application

v. The declaration by Subscribers and First directors in form INC-9 has been substituted and the same will now be auto generated electronically in the form itself. Previously the said declaration was made physically and attached with the form SPICE. However, the physical form INC-9 shall still be required in the following two situations:

  • The proposed directors/subscribers do not have the DIN
  • The number of proposed directors/subscribers exceeds twenty

vi. Registration for ESIC, EPFO, Profession Tax (Maharashtra only) and opening of Bank Account has been mandated and such registration will be done through AGILE PRO. However, the registration of GST is optional

vii. The bank account as of now shall be opened through AGILE PRO in the Punjab National Bank (PNB) only. However, the government is in the process of incorporating more banks for the purpose of account opening. The form will automatically allot the nearest branch of the bank

viii. The statutory returns for EPFO and ESIC shall only be filed when the statutory limits are met

Please feel free to revert on below mentioned email ids in case you need any further clarification or information.
Nidhi Singh at nidhi.singh@ibadvisors.co

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