Trade

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Trade License

Every business organization needs a trade license from regulators, be it the municipal corporation or the state government. Trade License is a document that gives permission and certifies you to carry on a particular trade or business for which it is issued. It does not give ownership of property or permission for any other activity other than for which it is issued.

The municipal corporation authorizes license department and allots licenses in consultation with other specific consultative departments like Health, Engineering, Estate and others of the same type.

In perspective of this, it is essential for any business establishments to take primary licenses from the License Department before beginning manufacturing, exchange or storage of any activity. The application has to be filed with the Commissioner in the Corporation 30 days before the start of business. While filing, the business has to submit all the mandatory documents.

Types of Trade License

Shop License
This license is required for anyone who wants to open a shop. The shop can be of any retail type.

Industrial License
This type of license is required for any company that wants to open a small or mid-sized industrial unit.

Food Establishment License
Any establishment that plans on getting into the food and beverage industry requires this license. The license applies to restaurants, cafes, meat shops, bakeries and vegetable shops.

Why Trade License

In the last 40 years, trade license has been included in the country and is being governed by municipal corporation acts by the state governments. This benefits in ensuring that no one is individually affected by the nuisance and health hazard of any trade or business.

It has been made mandatory by the government to carry out any particular business or trade in a particular area and to ensure that no one is carrying out any wrong business practices. This license creates a harmony in the society that all business is following relevant rules, guidelines and adopting the safety measures. This license was made necessary to make sure that the government can regulate different trade activities in the country. The core purpose of issuing this is to control the locations by restricting the people from executing some types of businesses from their home location to maintain the business environment.

Validity

Trade license is necessary for every business that carries out a trade or business needs. A trade license is valid only for 1 year.

Many other provisions, rules, and regulations are required to be followed by the registered person. In case of negligence to comply with the registration conditions of trade license and starting any trade activity before the issuance of this license, the person in the default will be responsible to pay the directed penalty. Moreover, legal action can also be taken against the defaulter.

Renewal

The trade licenses in India are renewed from January 1st to March 31st. The validity of a license issued by the municipal authority is for one year and required to be renewed every year.

The application for renewal of the license is to be done within 30 days from the date of its expiry. In case the renewal process is delayed, then it may attract fine depending upon the rules and regulations of the issuing authority.

Following are the documents that require to be submitted for renewal of the license:

Original copy of the trade License
Previous year Challans
Up to date property tax paid receipt