Question : Launching of SPICE Portal

(a) whether the Ministry of Corporate Affairs has introduced Simplified Proforma for Incorporating Company Electronically (SPICE) Plus 10 in 1 form to start companies faster; If so, the details thereof;
(b) whether the number of processes and time needed to start up business in India takes longer in comparison to other countries; If so, the details thereof;
(c) whether there is an urgent need for reforms in reducing the time and cost for doing business in the country; and
(d) if so, the details thereof along with the other steps taken by Government in this regard?

THE MINISTER OF STATE FOR FINANCE (SHRI ANURAG SINGH THAKUR)
AND CORPORATE AFFAIRS (???? ?????? ???? ?????)
????? ??? ???????? ????? ???????? ??? ????? ??????

(a) to (d):- The Ministry of Corporate Affairs (MCA) has notified and deployed a web-form namely ‘SPICe+’ (pronounced SPICe Plus) vide notification no. GSR 128 dated 18.02.2020 (effective from 23.02.2020) as a part of Government of India’s Ease of Doing Business (EODB) initiatives. The said web-form offers 10 services by three Central Government Ministries and Departments (Ministry of Corporate Affairs, Ministry of Labour & Department of Revenue in the Ministry of Finance), one State Government (Maharashtra) and various Banks, thereby saving procedures, time and cost for Starting a Business in India.

These 10 services are:- (i) Name reservation (ii) Incorporation (iii) DIN allotment (iv) Mandatory issue of PAN (v) Mandatory issue of TAN (vi) Mandatory issue of EPFO registration (vii) Mandatory issue of ESIC registration (viii) Mandatory issue of Profession Tax registration (Maharashtra) (ix) Mandatory Opening of Bank Account for the Company and (x) Allotment of GSTIN (if so applied for). Users may either choose to submit Part-A for reserving a name first and thereafter submit Part B for incorporation & other registrations or file Part A and B together at one go for incorporating a new company and availing the bouquet of registrations as above. The new web form facilitates On-screen filing and real time data validation for seamless incorporation of companies.

After introduction of the aforesaid new Web Form, the number of procedures has been reduced to 3 as against 10 earlier and time has also been reduced to 4 days as against 18 days earlier for starting a Business in the Country.
Further, vide notification no. 180(E) dated 06.03.2019 effective from 18.03.2019, this Ministry has amended the Companies (Incorporation) Rules, 2014 whereby zero fee is being charged for incorporation of all companies with authorized capital upto Rs. 15 lakh or upto 20 members where no share capital is applicable.
**********