A trade license is a certificate that gives the permission to the applicant (person seeking to open a business) to commence a particular trade or business in a particular area/location. However, the license does not allow the holder to any other trade or business than for it is issued.
The trade license does not pass on any kind of property ownership to the holder of the license.
a. The applicant must have crossed the age of 18 years
b. The applicant must not have any criminal records
c. Business must be legally permissible.
It takes 7-10 working days time to process the application of Trade license in metro cities. However, in other small cities and rural areas, it takes longer.
The applicant must have attained 18 yrs of age and should have no criminal record. The business must have the object to carry that activity for which the trade license is acquired.
Different Types of Trade License
Food Establishment License- Hotels, Canteens , Food Stall seller, Grocery shops
Industrial License- Factories, Power Looms, Flour MIlls, Other manufacturing units
Shop License- Barber shops, Dry Cleaners shops, Crackers and candle shops, Building Material shops
The trade license remains valid for the period of one year and after it is renewed from time to time to carry on trade.
Documents required for renewal of trade licence:-
The Trade license is required to be renewed on the annual basis after getting the registration. The renewal application is required to be submitted within 30 days from the date of expiry of the license. The delay in fling of the application can incur additional payment which is 50% of the license fees.
The municipal authority of the particular state is the accountable body for the issuance of the trade license.
The brief process to obtain Trade licence are:
1. Application in Form 353 or 354, depends on the case.
2. If the applicant is a person, his/her Aadhaar Card is necessary.
3. If the applicant is any Company, LLP, Firm, etc, the PAN Card and incorporation certificate or document is necessary.
4. Latest Tax Payment Receipt.
5. Consent letter or Lease documents from the Owner of the property.
Please note that running an unapproved Trade is an offense. The concerned authorities may seize or lock your Trade business with or without prior intimation.
You are required to fill the Renewal Form and also requires to Pay the renewal charges with half fine. My license has lapsed over a year back, what would be a good idea for me to do? You are required to fill the Renewal Form and also requires to Pay the renewal charges with half fine.
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