A Trade License or Business License is a License issued by the Local authority to run the listed business by the trader within the jurisdiction of the local body. The Local Authority or Local Body may be Municipal Corporation or Municipality or Panchayat.
Every employer and owner of a shop & establishment whether it is Sole Proprietorship, Partnership Firm, LLP, Private Limited Company, Public Limited Company or any other business entity registered under any other law for the time being inforce which are listed by the municipality or municipal corporation shall apply for Trade License. The object of the trade license is to create business atmosphere at a commercial space and to separete residential accomodations and to restrict unlawful business activities. It has to be renewed and the trade license fee has to be paid based on the total sq.ft area of occupency that an entity occupies.
A trade license is needed by a business entity in order to legally carry out various activities. It is a legal document that provides legitimacy to a company and gives it the ability to perform certain actions in the area in which the trade license was granted. This type of license is only good for the activity it was originally granted for. It does not provide any special permission to carry out an activity other than the one it was issued for.
Trade License is issued by a Local Authority or Local Body i.e. such as Municipal Corporation, Municipality, Panchayat.
Both are same. It is issued as Gumasta License in the state of Maharashtra and in rest of the states it is issued as Trade License.
It is renewed on yearly basis and the fee is paid based on the total sq.ft area a business entity occupies.
We will prepare all the documents in order for online uploading with the Local Authority's web portal.
We will upload the documents with the Loacal Authority's web portal online and pay the requisite fee.
After scrutiny, the Officer will approve the form and issues you the Certificate of Registration Online through their web portal. In few states, this facility is online and in rest of the states, the designated officer visits the premises, caluclate the fees payable and after due verification in respects, he approves it and issues you the Trade License.
Legal Protection is there for a business entity which takes Trade License. The proprietorship can start business by getting Trade License with Local Authoritie or Local Body.
A business entity which is having Trade License will enjoy the Goodwill.
Most of the Indian states made it online. You can apply it online easily and the License.
A business entity which is having Trade License can escape from levy of penalties by the Loacal Authority or Local Boady.
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Any business entity which is listed by the local municipality or municipal corporation has to take trade license.
It is issued by a municipality of municipal corporation.
The municipality or municipal corporation will levy penalty.
Three to four business days.
It depends on the locality and sq.ft of area it occupies.