What are the Key Features of SPICe+? (Pronounced as SPICe Plus)  

Introduction

India launched the SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) on February 15, 2020, the Ministry of Corporate Affairs (MCA) as part of its initiatives to enhance the “Ease of Doing Business” in the country. This innovative web form is set to replace the existing SPICe form, streamlining the company incorporation process significantly. The SPICe+ initiative marks a pivotal change in the way businesses are registered, offering a more efficient and user-friendly approach for entrepreneurs.

What is MCA Form SPICe+?  

The SPICe+ form is a comprehensive online application that integrates multiple services necessary for company incorporation. This includes name reservation, DIN (Director Identification Number) allotment, and the mandatory issuance of PAN (Permanent Account Number), TAN (Tax Deduction and Collection Account Number), EPFO (Employees’ Provident Fund Organization), ESIC (Employees’ State Insurance Corporation), and more. By consolidating these services, SPICe+ simplifies the overall process, making it easier for entrepreneurs to start their businesses.

Key Features of SPICe+ (SPICe Plus)  

The SPICe+ form encompasses several key features that collectively enhance the company incorporation experience:

1. Integrated Web Form  

SPICe+ functions as an integrated web form, moving away from the previous method of submitting PDF files. This digital shift not only modernizes the process but also significantly reduces the time and complexity involved in starting a business.

2. Comprehensive Service Offering  

The SPICe+ form offers a total of ten services through its two-part structure:

• Part A: Name reservation for new companies.

• Part B: Incorporation and nine additional services, including:

• • DIN allotment

  • Mandatory issuance of PAN

  • Mandatory issuance of TAN

  • EPFO registration

  • ESIC registration

  • Profession Tax registration (specific to Maharashtra)

  • Mandatory bank account opening for the company

  • Allotment of GSTIN (Goods and Services Tax Identification Number) if applied for.

3. Flexible Submission Options  

Users have the flexibility to either submit Part A for name reservation first and then Part B for incorporation or to file both parts together in one go. This flexibility caters to different user preferences, making the process more adaptable.

4. User-Friendly Dashboard  

The SPICe+ platform features a new user-friendly dashboard designed for seamless navigation during the incorporation process. This dashboard facilitates easy access to application statuses and necessary links.

5. Seamless Continuation of Applications  

Once a name is reserved in Part A, stakeholders can continue their application without needing to re-enter the approved name. The dashboard prominently displays the approved name, allowing users to proceed with Part B effortlessly.

6. Easy Resubmission Process  

The system simplifies the resubmission of applications. If any changes or modifications are needed, users can access their application through the dashboard and easily resubmit it using the provided hyperlinks.

7. On-Screen Filing and Real-Time Validation  

SPICe+ supports on-screen filing with real-time data validation, ensuring that all necessary information is entered correctly before submission. This feature helps reduce errors and speeds up the incorporation process.

8. Pre-Filled Information in Linked Forms  

When users fill out Part A, the system automatically pre-fills the approved name and incorporation details in all linked forms, such as AGILE-PRO, eMoA (Electronic Memorandum of Association), eAoA (Electronic Articles of Association), and INC-9. This automation streamlines the documentation process.

9. Structured Filing Sections  

The SPICe+ form is organized into various sections, making it easier for users to navigate and input their information systematically. This structured approach enhances user experience and minimizes confusion.

10. Modification Capabilities  

Information entered in the SPICe+ form can be saved and modified later. This flexibility allows users to refine their applications without losing any data.

11. All Validations on the Web Form  

The SPICe+ platform conducts all necessary checks and pre-scrutiny validations directly on the web form, with the exception of Digital Signature Certificate (DSC) validation. This allows for a more efficient review process.

12. Easy PDF Generation for DSC  

Once users complete the SPICe+ form, they can easily convert it into a PDF format with just one click, allowing them to affix their Digital Signature Certificates without any hassle.

13. Post-Submission Changes  

Even after generating the PDF and affixing DSCs, users can make changes to their SPICe+ application. They can edit the saved application, generate an updated PDF, and re-upload it as needed.

14. Mandatory Registrations  

Starting February 15, 2020, all new companies incorporated must register for EPFO and ESIC. Similarly, new companies in Maharashtra must also register for Profession Tax.

15. Bank Account Opening  

All new companies that register through SPICe+ must apply for a company bank account using the AGILE-PRO linked web form, which further facilitates smooth business operations.

16. Auto-Generated Declarations  

Declarations by all subscribers and first directors in INC-9 are auto-generated in PDF and must be submitted electronically. This feature enhances the efficiency of the documentation process.

Conclusion  

The introduction of SPICe+ is a significant advancement in India’s efforts to improve the ease of doing business. By integrating multiple services into a single, user-friendly web form, the SPICe+ initiative simplifies the company incorporation process for entrepreneurs.

With features such as real-time validation, pre-filled forms, and easy resubmission, SPICe+ provides a comprehensive solution that saves time and reduces administrative burdens. As India continues to embrace digital solutions for business registration, SPICe+ stands out as a crucial tool for aspiring entrepreneurs looking to establish their ventures efficiently.