Trade License is a permit required to carry out trade activities or starting a business in a specific municipal area for which it has been issued.
The State Government is responsible for laying down the provisions of the trade license. The provisions of the license regulate and monitor several trade activities within a particular city.
Every state has its own municipal body and different Act which governs the Trade License. The license ensures that the business adheres to certain standards, rules, and safety guidelines.
A trade license is issued by the municipal corporation of the particular state or place where the business is situated.
A trade license is entirely different from company registration. On one side, a trade license provides the individual an authorization to conduct a specific type of business.
However, on the other side, company registration provides a business with a legal identity. It’s the process of registering a business under the Companies Act, 2013. Furthermore, it gives the company a suitable structure.
There are specific guidelines set by the government for obtaining a trade license in different cities and states. Some of the common criteria are as follows:
Any person or company can apply for three kinds of trade licenses based on the nature of the business he carries out. Those are as follows:
Documents required for obtaining a trade license are as follows:
One can apply for a trade license, both online and offline. The procedure for obtaining a trade license is different for every state because all of them have different website and different Act which governs them.
Therefore, if you need a trade license contact Swarit Advisors. We will help you obtain the license in whatever state you want to. Just follow the simple steps:
Trade license is supposed to be renewed on a periodical basis. The application for the renewal of a trade license should be made at least 30 days prior to the expiry date.
The trade license in India is renewed in between 1st January to 31st January. Generally, the validity of this license stands for a period of one year. Hence, this needs to be renewed every year.
In case, the applicant fails to renew the license in a given period, then he/she will be fined for the same.
In case you have any questions or wish to apply for Trade License, then click here or fill the inquiry form. You will get a dedicated Call from a CA /CS.
Ans: The municipal authority of the particular state is the responsible body for the issuance of the trade license.
Ans: A trade license is valid for only one year. Therefore, it must be renewed every year in order to carry the business or trade further.
Ans: No, you can’t carry several trades with a single trade license as it is issued for a specific business.
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