Difference between Form SPICe and SPICe+ Form

What is SPICe form?

SPICe stands for Simplified Performa for Incorporating Company electronically. SPICe is an application form for incorporating/registering a company with MCA. The company here means any kind of firm may it be a Private limited company, Public Limited Company, One Person Company, Nidhi Company, Section 8 Company or Producer Company.

SPICe Company Registration procedure provides integration of the following:

  • Allotment of Directors Identification Number (DIN)
  • Name approval
  • Incorporation certificate
  • Permanent Account Number (PAN)
  • Tax Deduction Account Number (TAN)

SPICe form would certainly be a relief for Professionals seeking their company registration with a unique name. The chances of rejection are almost zero, and the company registration procedure can be completed within 3-4 hrs of filing of the SPICe form.

The MCA effective from 15th February, 2020 have come up with a web integrated form SPICe+ which is an advanced version of the SPICe form.

What is SPICe+ form?

MCA in the recent notification announced the introduction of new form SPICe+ under the Ease of Doing Business (EODB) initiative. The form SPICe+ replaces the existing SPICe form. SPICe+ apart from being an advanced version of the existing SPICe, the form is capable of serving multiple requirements like name reservation, incorporation, DIN allotment, mandatory issue of PAN, TAN, EPFO, ESIC, Profession Tax (Maharashtra) and Opening of Bank Account.

SPICe+ is said to dedicate 10 services via 3 central govt ministries and departments (Ministry of Labour & Department of Revenue in the Ministry of Finance, Ministry of Corporate Affairs) and one State Government (Maharashtra). 

Spice+ form is an Integrated Web Form to be filed on MCA Portal. The SPICe+ form is divided into two parts:

Part A – For Name Approval Application

Part B – Other Incorporation Services like

  • Company Incorporation
  • Application for DIN
  • PAN Application
  • TAN Application
  • GSTIN Application
  • EPFO Registration
  • ESIC Registration
  • Opening of Bank Account for the Company
  • Profession Tax Registration (only for Maharashtra)

The SPICe+ form saves valuable time and procedure maintenance of the Professionals seeking their company registration and has been incorporated for all the new companies. The new SPICe+ form provides even more services in a single form than the previous SPICe form.

Difference between Form Spice and Spice+ Form:

The newly introduced SPICe+ form is very similar to the already existing SPICe forms. The SPICe+ forms provide some extra services apart from the SPICe form. The significant difference is:

  • SPICe is an eform and SPICe + is a web integrated forms.
  • SPICe+ forms save time and cost for starting a business in India.
  • SPICe+ forms are part of various initiatives and commitments of the Government of India towards the ease of doing business in India.

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Note: This Post was last updated on March 31, 2022

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Sunita

Founder & Director | COO & CHRO at eTaxFinance | Content Writer at eTaxFinance Blog | Department Head for Intellectual Property & Startup Team | Head-Corporate Strategy and Planning