Trade license is essential for every business that carries out trade or business needs.
A trade license is valid only for a year.
A Trade License is a legal document from the municipality that provides authorization to a person or a party to commence business operations. Trade license is given only if the business adheres to all the rules and regulations laid down by the corporation and safety authorities of the particular state.
The application has to be filed with the Commissioner in the Corporation 30 days prior to commencement of business. While filing, the business has to submit all the mandatory documents.
Anyone can apply for a trade license except those who:
There are three types of trade licenses that a company or individual can apply for based on the type of trade or business they carry out.
This license is needed for anyone who wants to open a shop. The shop can be of any retail type.
This type of license is needed for any company that wants to open an small or mid-sized industrial unit.
Any establishment that plans on getting into the food and beverage industry needs this license. The license applies to restaurants, cafes, meat shops, bakeries and vegetable shops.
When applying for a trade license, one need to show the following documents:
In India, trade license renewals take place between January 1st to March 1st. While applying, a person should show the following documents:
Once the type of trade license is finalized, the Form 353 has to be duly filled with all the required details. All the above-mentioned documents have to be submitted to the ward office of the area’s local municipality.
After the application is filed, if more information is needed the authorities may demand for addition details. If all the details are found satisfactory, the trade license will be issued. The validity of the trade license is one year and it takes about 2-3 weeks to procure one. It will be sent through courier.
Trade license is the mandatory license for every business. Hence, if any business owner fails to get one before starting a business, he or she is liable to pay a fine or may face legal repercussion.
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Our team of experienced business advisors are a phone call away, should you have any queries about the process. But we'll try to ensure that your doubts are cleared before they even arise.
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