Company Registration gets easy with launching of 'SPICe' form

A bold step has been taken by The Ministry of Corporate Affairs on the occasion of Gandhi Jayanti 2016 by launching a new ‘Integrated company incorporation form', named SPICe (i.e. Simplified Proforma for Incorporating Company electronically); the sole, simplified, versatile and digital form (which includes SPICe INC-32, SPICe INC-33 and SPICe INC-34) for company formation in India (includes both Private Limited Companies and One Person Companies), with the sole objective of promoting greater ease of doing business and providing much easier & speedy way of incorporation related services within stipulated time frames. With the launch of the above mentioned forms, Existing Form nos. INC 29 and Form INC 7 have been phased out.

Although Form INC-32 is quite similar to Form INC-29, the main difference is that apart from registration of company, this form provides the provision for applying for Company name & DIN of the directors also. Memorandum and Articles will now be filed as linked e-forms via SPICe INC-33 & SPICe INC-34 respectively (except for Section 8 Companies) and standard format of such e-Memorandum of Association and e-Articles of Association is available on MCA portal itself. And when such new Company gets registered, the CIN as well as DIN of proposed Directors will be allotted. This whole process shall take just 3 to 5 days unlike the previous registration procedure wherein it used to take at least 10 to 15 days to incorporate a new company.

Another recent amendment in such SPICe form being that one can now also apply for PAN & TAN (of such new company being formed) within such form itself; thereby meaning that PAN will be allotted to such new company immediately and be mentioned in the ‘Certificate of Incorporation’ itself.

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Some recent updates that you would not like to miss –

1.      Revised Invoice with GSTIN will have to be issued within 30 days for invoices issued between effective date of registration & grant of registration certificate.

2.      In case of default in filing of GST Returns, notice will be issued to defaulter to file returns in 15 days.

3.   LAST DATE to file TDS Returns in Forms 24Q, 26Q, & 27Q by ALL DEDUCTORS, for Dec Quarter of 2016-17 is 31.01.2017.

4.      Applying for Company PAN and first TAN (allotted by Income Tax Department) will be compulsory for all fresh incorporation applications filed in SPICe form w.e.f. 30th January 2017. New version of SPICe form for all fresh incorporation applications will be available w.e.f 01 Feb 2017.

Have a great day ahead!