Trade License

A Trade License is required from State Government or Corporation or Municipality to operate a place of business within the concerned State, Corporation, or Municipality. Applicant must first understand the jurisdiction under which he/she is operating the business and the applicable Act as rules and regulations pertaining to trade license varies from state to state. Different states have different names for Trade License, e.g. in Maharashtra, it is called Gumasta license.

In most states, the application for grant or renewal of the license will be made to a Commissioner in the Corporation. The application must be made within 30 days of starting to operate a business. On applying with the required information and documents, the concerned officer will ensure that the business is suitable for the purpose used, there is no possibility of danger or nuisance for any person around and issue the license. Trade license is generally issued for a period of the 1-year post which it needs to be renewed. However, it can be applied for multiple years at once. Most of the states have waived off the physical verification of business premises, however, the practice is still prevalent in some states.

TaxFino can help you obtain a trade license for your business. Get in touch with a TaxFino Expert to know more about the rules and regulations applicable for your business and begin the process of applying for a trade license.