Introduction To Indian Subsidiary And SPICe+ Form | Ebizfiling from ishita ramani's blog

  Introduction 

The Indian government has implemented an integrated web form called SPICe+ or SPICe Plus for online company registration in India. It is a single application procedure to incorporate an Indian Subsidiary and there are several documents required for company registration in India. The concept of Ease of Doing Business (EODB) in India is reflected in this form. India's ranking for ease of doing business has significantly improved since the introduction of the SPICe+ form and it has made company registration in India very quick. In this blog, we will focus on the Indian subsidiary company registrationin India through SPICe+ Form.

 What is SPICe+ Form?  

The SPICe+ Form is a Simplified Proforma for Incorporating Company Electronically Plus. The SPICe+ is an integrated web form that provides a variety of services, such as name reservation, incorporation, DIN allocation, obligatory issue of PAN, TAN, EPFO, ESIC, and Profession Tax (Maharashtra), as well as the opening of bank accounts in the name of the company. Moreover, it will make it easier for shareholders to receive a GSTIN in the respect of which it is applied.

 India Subsidiary through SPICe+ Form 

The Indian Subsidiary Company registration is completed with this one single application. The steps for incorporation are as follows:

Step 1:The individual who is establishing an Indian Subsidiary in India is required to collect all documents of the foreign company.

Step 2:After collecting the documents, the members or shareholders should decide a unique name for the company.

Step 3:Draft AOA and MOA for the Subsidiary Company. These documents will act as an internal law of the company, in which the details of business operations, shareholding rights, details of shares, etc.

Step 4:Application for subsidiary registration in the prescribed form i.e. SPICe+ Form:

• Spice+ Form is divided into two parts:

Part A: Apply for the name reservation of the company in Part A of the form Spice+ It can be used for getting the name approval of the proposed Company and also for filing Company registration in one single step.

Part B: In Part B of the Form Spice+, apply for the following services:

1. Incorporation

2. DIN allotment

3. Mandatory issue of PAN

4. Mandatory issue of TAN

5. Mandatory issue of EPFO registration

6. Mandatory issue of ESIC registration

7. Mandatory issue of Profession Tax registration(Maharashtra)

8. Mandatory Opening of Bank Account for the Company and

9. Allotment of GSTIN (if so applied for)

Step 5:Open a bank account in the territory of India. It should be under the name of the Indian Subsidiary Company.

 Process for filing the SPICe+ Form 

As the SPICe+ Form is divided in two parts, so the process of filing both parts is different. So let us learn the process of filing Part A and Part B of the SPICe+ Form.

Steps for filing Part A of the Form

• Go to the MCA portal, and click on the MCA services option.

• After clicking on the MCA services option. You will see SPICe+ Form, click on it.

• It will take you to a new page. On that page click on the 'New application form' option.

• Properly fill out the form and recheck before submitting. After you submit the application the Part B of the form will be made available to you.