Now, Added SPICe Incorporation

The era of simple incorporation has already been over. We have SPICe since long which claimed to facilitate additional registrations at the option of the applicant. Now, This is over. The Government is now at the final stage of serving added SPICe. The menu name “SPICe+”

Presently, Ministry of Corporate announced a New web-based form replacing existing pdf form based filing. The Announcement on the website says, “The Ministry of Corporate Affairs would be shortly notifying & deploying a new Web Form christened ‘SPICe+’ (pronounced ‘SPICe Plus’) replacing the existing SPICe form.”

Web-based forms are easy to understand but there are feared disadvantages but we will comment upon only after actual use.

SPICe+ would be an integrated Web form offering multiple services viz. name reservation, incorporation, DIN allotment, mandatory issue of PAN, TAN, EPFO, ESIC, Profession Tax (Maharashtra) and Opening of Bank Account. It will also facilitate allotment of GSTIN wherever so applied for by the Stakeholders. After deployment of SPICe+ web form, RUN shall be applicable only for change of name of existing companies.

I always have reservations against mandatory clubbing of facilities because of poor facilitation. Thankfully, GSTN is an optional facility, which was not a good experience with earlier (presently existing) SPICe form.

Present web – form RUN (Reserve Unique Name) – used for reservation of names shall discontinue with the introduction of SPICe+. Upon notification & deployment, all new name reservations for new companies as well as new incorporations shall be applied through SPICe+ only.

However, incorporation of companies for names reserved through the existing RUN service shall continue to be filed in the existing SPICe eform along with related linked forms as applicable and if marked under resubmission shall be resubmitted in SPICe eform.

Resubmission of SPICe forms submitted prior to the date of deployment of SPICe+ webform shall also be filed in the existing SPICe eform and related linked forms as applicable.

Due to the proposed changes to the RUN web service (for companies), RESUBMISSION OPTION for name reservation SHALL NOT BE AVAILABLE from 1st Feb 2020 ONWARDS for approximately 15 days.

Stakeholders are advised to EITHER AWAIT DEPLOYMENT OF SPICe+ AND THEN APPLY FOR NAMES through SPICe+ web form or perform due diligence while submitting any application in existing RUN web service for name reservation.

Practically, there may be a halt on company incorporation during the month of February 2020.

  • Aishwarya Mohan Gahrana

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