The document provided by the municipality provides permission to the company and businessman to carry on trade or businesses. The application for trade licence shall be made prior to 30 days of commencing business.
The applicant must ensure that he completes the three major prerequisites:
The procedure for obtaining and maintaining trade license vary for each state. Following is the general process which can be completed with few additional formalities:
The trade license issued by the municipal authorities is valid for a period of 1 year and hence need to be renewed annually.
The application for trade license registration takes up to 3-4 days without any resubmission of the documents. If the applicant receives resubmission, it may take up to 7-10 days, and in case the application is made in rural or suburban areas the application may take more time.
It is mandatory for businesses and traders to obtain trade license prior to beginning with the business or else they will be levied a substantial penalty or in some instances can also be penalised. The Individual or applicant needs to comply with all the rules and regulation that are issued by the municipal authority of that area.