Riding high on initiatives, building new and effective policies for improving ‘Ease of Doing Business’ (EODB) Ranking of India is a priority concern for the government.
In the last few years, significant policy decisions were registered for improving cross border transactions, registration of properties, resolving insolvency issues and compliances of taxes all were meant to take the ranking of the country to a lead spot.
Working with a vision of ranking ‘India’ among the Top 50 countries in the ease of doing business ranking, another key initiative in the form of new simplified compliance is e -form ‘Form INC-35 (AGILE)’ has been taken. Issued vide Notification dated 29th March 2019 through the Companies (Incorporation) Third Amendment Rules, 2019, the new AGILE form helps companies to reduce their compliance burden and obtain multiple registrations in a single go. In this post, you will get to know all about the e-form INC -35(AGILE).
e-form INC -35 (AGILE )
Form AGILE has been introduced with the following objectives:
- The form reduces the compliance stress of companies and saves their time from filling individual forms for obtaining different registrations under different acts. With this single form AGILE, companies would be able to enlist their name under Goods and Service Tax (GST), Employee Provident Fund Organisation (EPFO), and Employee State Insurance Corporation (ESIC).
- The new rules embed the AGILE e-form INC-35 with the incorporation /registration application of the company that is Form SPICe.
- The company with specific details will only be required to furnish some additional details to apply for multiple registrations at the same time.
Things To Know:
- It is mandatory to file INC-35 (AGILE) with SPICe form for company incorporation with effect from 31st March 2019 (Application for is optional).
- Directors signing the SPICe form during incorporation shall also have to sign the e-form INC-35(AGILE) in the same way.
- In case of a setback of GST registration with INC-35(AGILE), the applicant shall have to then undertake registration by applying it through the GST common
- GSTN shall be allocated to the applicant once the company gets incorporated at the MCA portal and Certificate of Incorporation (COI) and Permanent Account Number (PAN) will be then successfully generated of the company.
The new Form INC-35 (AGILE) on a short note will not only bring effectiveness in the overall incorporation process but will also benefit government institutions (EPFO, GSTN, ESIC) to receive accurate information of the company in one go.
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