In a significant move towards simplifying and expediting the process of incorporating companies and limited liability partnerships (LLPs), the Ministry of Corporate Affairs has expedited company and LLP incorporation by integrating its system with the National Single Window System (NSWS). This centralized platform streamlines approvals from 31 central government departments and 22 state governments, aligning with the government's commitment to ease of doing business.
The NSWS streamlines government approvals, offering businesses efficient live tracking, prompt query responses, and secure document handling, accessible through both NSWS and MCA21 portals, which also provide PAN issuance, bank account, and GST registration services, simplifying the incorporation process into a seamless procedure.
Further, aligned with the digitization trend, MCA is set to introduce a new IT module on the MCA21 portal for adjudicating compliance defaults, aiming to expedite the process and reduce physical interfaces. This 'faceless' decision-making model, in line with other government departments, promotes transparency and efficiency. The integration of NSWS into the incorporation process is a significant move toward aligning regulatory services with evolving business needs, fostering a business-friendly environment. Ongoing regulatory reviews underscore the commitment to reducing the overall cost of doing business in collaboration with the business community.