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. 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 and the applicable Act.
In most states, the application for grant or 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 required information and documents, the concerned Officer will ensure that the business is suitable for the purpose used, there is no possibility of danger or nuisance for any person around and issue the license. Trade license would normally be issued within a period of 7-15 days on submission of application. MultiFold can help you obtain trade license for your business. Get in touch with an MultiFold Advisor to know more about the rules and regulations applicable for your business and begin the process of applying for a trade license.
Important Aspects Relating to Trade License
Trade license is known by different names in different parts of the country. For instance, trade license 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. The jurisdiction and procedure for application would differ based on the State regulations.
In some State, the trade license would be issued only after in-person verification from the concerned authorities. However, many states have also done away with the requirement.
The normal processing time for trade application is 10 – 15 days subject to Government processing time. The certificate can be downloaded online after approval.
In most states, trade licenses are issued with a validity of 1 year. Trade license can be renewed at the end of each year by paying the renewal fee.