SPICe+ Web Form

WHY IN NEWS?

Recently, the Ministry of Corporate Affairs (MCA) has launched the Simplified Proforma for Incorporating Company Electronically Plus (SPICe+) web form.

ABOUT SPICe+ WEB FORM

• The SPICe+ form will replace the existing SPICe form.
• SPICe was launched in 2016 and is a single form for multiple services for incorporation of a company.
• SPICe+ would offer 10 services by 3 central government ministries & departments (Ministry of Corporate Affairs, Ministry of Labour & Ministry of Finance) and one State Government (Maharashtra).
• SPICe+ has two parts:
  • Part A for name reservation for new companies and
  • Part B offering a bunch of services including incorporation, Director Identification Number (DIN) allotment, mandatory issue of Permanent Account Number (PAN), besides allotment of Goods and Service Tax Identification Number - GSTIN (if applied for).
  • The new web form will help save many procedures, time and cost for starting a business in India.
  • India has improved its ranking to the 63rd spot on the World Bank’s Ease of Doing Business (EODB) survey, 2019 out of 190 countries. However, the report had cited India was lagging behind in certain parameters such as starting a business.
  • The latest step is an effort towards achieving the government’s target of reaching the 50th spot.

Prelims Question

Q. Consider the following statements regarding SPICe+:
1.Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) is a Centrally Sponsored Scheme. SPICe+ would offer 10 services by 3 central government ministries & departments (Ministry of Corporate Affairs, Ministry of Labour & Ministry of Finance) and one State Government Uttar Pradesh.
2.SPICe was launched in 2016 and is a single form for multiple services for incorporation of a company.
Which of the statements given above is/are correct?
a)1 only
b)2 only
c)Both 1 and 2
d)Neither 1 nor 2

Answer to the Prelims Question