Trade License.
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What is a Trade License?
Trade License is required for every business or trade to carry out the operations within the local municipality.
A Trade license is a certificate issued by the Municipal Corporation, permitting an applicant to carry out a particular trade/business which is indicated in its application. No other rights are created out of the license, such as a claim on the property, or the ability to engage in some other activity which was not specified in the application.
Trade licenses were required to effectively regulate businesses and ensure that no other person is severely affected due to the creation of nuisance or health hazards in the course of operation of the business.
Compulsions
Every State usually requires a business to apply for a license at least 30 days before commencing operations and requires the license to be prominently reviewed once obtained.
Important Aspects Relating to Trade License
Gumaste License
Gumasta License is a registration required for doing any kind of business in the state of Maharashtra. It is governed by the Municipal Corporation of Mumbai under the Maharashtra Shops and Establishment Act. This is a certificate which provides you the authority to do your business at a particular place. This license is a basic requirement for any business to be recognized by Government or Bank for all business irrespective of whether it is done by a single person or big organization.
Obtaining Gumasta ensures your business can be developed without many complications and it is very important for opening a current account or obtaining any loan from the bank. Without this license in the Maharashtra State, obtaining GST registration is not possible.
Application
Trade license application must be made to the concerned State Government or Corporation or Municipality. Based on the State regulations, The jurisdiction and procedure for application would differ.
Verification
In some State, the trade license would be issued only after in-person verification from the concerned authorities. Many states have also done the same requirement.
Processing Time
The average processing time for a trade application is 10 – 15 days’ rest depend to Government processing period. After approval The certificate can be downloaded online.
Validity
The average processing time for a trade application is 10 – 15 days’ rest depend to Government processing period. After approval The certificate can be downloaded online.
What documents required for a Trade License?
Basic
- 2 Digital Signature 1
- 2 DPIN
- LLP Deed Drafting
- Incorporation Fees
- 1 Lakh Capital
- PAN & TAN
- Certificate of Incorporation
Standard
- 2 Digital Signature 1
- 2 DPIN
- LLP Deed Drafting
- Incorporation Fees
- 1 Lakh Capital
- PAN & TAN
- Certificate of Incorporation
- ISO Certificate 2
- MSME Certificate
- GST Registration
- GST Invoice Software 3
Premium
- 2 Digital Signature 1
- 2 DPIN
- LLP Deed Drafting
- Incorporation Fees
- 1 Lakh Capital
- PAN & TAN
- Certificate of Incorporation
- ISO Certificate 2
- MSME Certificate
- GST Registration
- GST Invoice Software 4
- Website Design 5
- Trademark Registration
- Logo & Letterhead