Trade License

Trade License Registration


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Trade License Registration

A trade license is a certificate that gives the permission to the applicant (person seeking to open a business) to commence a particular trade or business at a particular location. However, the license does not allow the holder to any other trade or business than for it is issued. Trade license has been introduced in the country and is being regulated through municipal corporation acts by the state governments. It has been made necessary by the government to carry out any particular business or trade in a particular area and to ensure that no one is carrying out any unethical business practices.

In order for a business to be considered as a legal entity it needs to have a trade license. With a trade license, a business can operate in a commercial space, without fear of being shut down. This provides a display of confidence and competence, in the business and entrepreneur.

There are various other provisions, rules, and regulations that are required to be followed by the registered person. In case of failure to comply with the registration requirements of trade license and commencing any trade activity before the issuance of this license, the person in the default will be liable to pay prescribed penalty. Furthermore, legal action can also be taken against the defaulter.

The Trade license issued by the municipal authority is exclusively for the Trade or business. The Rules and regulations in relation to the issuance of a trade license varies from state to state and the fee structure for the issuance of the license differs based on the nature of the business. A business granted with this license will enjoy a greater goodwill than an unregistered entity and subsequently attracts more customers and investors. This also ensures ethical business practice is performed by the traders as they have to follow safety measures and guidelines. If a person doesn’t apply for the license or before the grant of the license as required under law and commences any trade or business activity than the relevant government (authority) can impose fines and penalty as per their rules and regulation. The failure to comply with pre-requisites of the trade license can also result in the closure of a business.

If you are willing to register your Trade with the local municipality or require a professional to support you in obtaining a Trade license, we are there for you. Get in touch with our expert team for more details.

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