A place of business within a State, Corporation or Municipality will require a trade license from the concerned State Government or Corporation or Municipality for operating the business license. Rules and regulations pertaining to trade license varies from state to state. Hence, to obtain trade license, the applicant must first understand the jurisdiction under which he/she is operating the business under the applicable Act.
In most states, the application for granting and renewal of license will be made to a Commissioner in the Corporation. The application must be made within 30 days of starting to operate a business. On applying with the attach information and documents, the concerned Officer will ensure that the business is suitable for that purpose; there is no possibility of danger or nuisance for any person around while issuing for the license. Trade license would normally be issued within a period of 7-15 days on submission of application.
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Important Aspects Relating to Trade License
Trade license is known by different names in different parts of the country. For instance, it is referred to as Gumasta license in the state of Maharashtra.
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.
In some State, the trade license would be issued only after person verification from the concerned authorities.
The processing time for trade application is 10-15 days subject to government processing time. The certificate can be downloaded online after the approval.
In most states, trade licenses are issued with a validity of 1 year. By paying the renewal fee trade license can be renewed at the end of each year.
Identity and Address Proof
Identity and address proof will be required for all directors and shareholders of the company to be incorporated. In case of Indian nationals, PAN is mandatory. For foreign nationals, apostilled or notarised copy of passport must be submitted mandatorily. All documents submitted must be valid. Residence proof documents like bank statement or electricity bill must be less than 2 months old.
Registered Office Proof
All companies must have a registered office in India. To prove access to the registered office, a recent copy of the electricity bill or property tax receipt or water bill must be submitted. Along with the utility bill, rental agreement or sale deed and a letter from the landlord with his/her consent to use the office as a registered office of a company must be submitted
How BusinessCrow will help you with renewing Trade License
BusinessCrow can help you to obtain trade license within 7-10 days, as subject to government and client processing time.
A BusinessCrow expert will collect the information and documents required for applying for trade license from the concerned government authority.
The trade license application will be submitted to the concerned department. A BusinessCrow expert will follow up on the status of the application periodically.
On obtaining the approval, trade license certificate will be forwarded through courier or with the hands of person.
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