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Trade License Overview
- Trade License is a license or permission issued by the municipal corporation granting permission to carry on a particular trade on a particular address.
- Now the need for a trade license. The most important one is that it prevents you from being penalized. Carrying out business without procuring a trade license is an offence in India.
- Further it is a proof that no illegal activity is carried out in your establishment The Shop and establishment Act regulates the conduct of business like working hours, benefits to employees and all.
Benefits of Trade License
The list of documents required for registration of GST for various business are as follows:
PAN Card and address proof of proprietor
- Legal Entity: In order for a business to be considered as a legal entity it needs to have a trade license.
- Manges Rules & Regulations: As stated by the Municipal authority in which the business is located.
- A Measure of Competence: With a trade license, a business can operate in a commercial space, without fear of being shut down. This provides a display of confidence and competence, in the business and entrepreneur.
Documents required for Trade License
When applying for a trade license, one needs the following documents for verification;
- Form 353 duly filled
- A letter of consent from the owner or neighbor of business property.
- The city survey map of the business property.
- Tax receipts
- A blueprint of the premises, in case, if the business deals with explosives, timber, and dangerous goods.
- Other documents that the Municipal Ward Officer may inquire, at the time of registration.
- In India, Trade License renewals take place between January 1 and March 1 of every year. While applying, a person should present the following documents for verification;
- The original trade license
- All tax receipts, showing up to date payments
- Past payment challans
What are the Documents required to renew a Trade License?
Process
Trade License
Fill the appropriate form as prescribed by the municipality to obtain a trade license.
Authority
Submit the duly filled form along with required documents to the municipal authority.
Verification
Concerned officers shall grant trade licenses to the applicant after due verification of the documents and the form submitted.
Checklist & Procedure
- Checklist For Who Can Apply for A Trade License
- When applying for a trade license, there are certain categories of people who can’t apply for a trade license.
- Minors: A person aged below the age of 18.
- Criminal Background: A person with a criminal record cannot apply for a trade license.
FAQ
What is a Trade License Application?
State-specific laws govern how to submit a trade licence application. As a result, it differs from state to state. In some states, obtaining a trade licence is required. Some states, on the other hand, have given businesses the opportunity to opt out.
How can an individual obtain his Trade License?
By submitting an application to the relevant Municipal Corporation, one may obtain a trade licence. Within thirty days of starting the business, the application form must be submitted.
Who is eligible to apply for a Trade License?
The following are the requirements for being eligible to apply for a trade licence:
The applicant in question must be at least 18 years old.
The applicant must be free of any criminal histories.
The business in question must be legitimate.
What is the use of a Trade License?
A trade licence is required to conduct business activities for industrial businesses, restaurants, and neighbourhood stores.
Why is there a need to obtain a Trade License?
A trade licence is necessary to ensure that no negative consequences or harm are brought about while conducting business in a certain location.
When can a Trade License be liable to be revoked?
If a trader has broken or infringed on the rules outlined by the MCD Act, the Municipal Corporation has the authority to withdraw their trade licence.
What does the KMC Trade License mean?
The Kolkata Municipal Corporation Trade License is referred to as a KMC Trade Licence.
What does the BBMP Trade License mean?
The Bruhat Bengaluru Mahanagara Palike Trade License is referred to as a BBMP Trade License.
Is it Mandatory to get the Trade License Renewed?
It's true that the government has made obtaining the licence renewed a mandatory. Failure to do so will result in a fee or a penalty.
What if the application for Trade License gets rejected?
The applicant may submit a request to the Standing Committee and a copy of his refusal letter if, for whatever reason, he has been denied a Trade License.