In a bid to break into the top 50 countries for ease of doing business, India may soon put in place a simple, single clearance process to incorporate a company with seamless registration of permanent account number, Tax Account Number, Goods and Services Tax, Employee Provident Fund Organisation and Employee State Insurance Corporation in flat three days. The Department for Promotion of Industry and Internal Trade or DPIIT, is working on the next set of measures for improving India’s Ease of Doing Business ranking by 27 places for the country to enter the top 50.
At present, there are issues on name reservation that is being sorted out by the ministry of corporate affairs, said a senior government official. Sometimes, due to queuing at other agencies, clearances can take longer, which is being fixed. A seamless process in html format is being proposed for registration with all central agencies, which will ensure a single layer of process. An alternative to authentication in place of digital signatures will be established as part of this plan to speed up registration.
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