Trade license is much needed for every business that carries out trade or business. It will be processed at the local municipality. It is only valid for a year and need to renew it after a year.
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A Trade License certificate is a document issued by the municipality which will give you permission to carry on trade or business.It will be given only if your business fulfils certain rules and regulations laid down by the corporation and safety authorities of the state.The application should be made to a Commissioner 30 days prior to the commencement of your business. It is compulsory for every business to have a trade license. You will be penalised if failed to do so before starting a business.
Everyone is eligible for a trade license except those who:
Based on the type of trade or business, there are three types of trade licenses one can apply for:
The following documents are required while applying for a trade license:
The renewals of licences take place between January 1st to March 1st in India.The following documents are required while renewing the trade license:
