Is it true that you are hoping to begin another business? Have you found out about trade licenses? If not, you certainly need it if you want to avoid the inconvenience! Any organization or business would require a trade license for trading. Henceforth it is required to acquire a trade license for a specific business. In general, the state government typically issues the Trade license. Any business having a Trade license can complete the activities of a business with no disturbances. Therefore to secure a Trade license registration in Tambaram, Chennai for your business then contact one of our Phoenixtax- Tax consultant.
What is Trade License?
Trade License has presented in India 40 years prior. A trade license is the best approach to manage the explicit business from a specific area. It is given by the State Government. A trade license is consent to carry on a particular trade or business at the premises for which it has been given.
It doesn’t guarantee any sort of property possession and is not licensed to do some other business instead of for which it is given. It is made important for a person to enroll in his new business and get an online trade license for it. The significant goal of the trade license is to reduce individuals from making their neighborhood their business area. The application should be made within 30 days of the beginning of a business. You can get your business registered with a trade license within 5 working days with help of phoenix Tax- Tax consultants in Chennai. For any services on trade license registration in Tambaram, Chennai we are ready to assist you and guide you through the process.
Who will need a Trade license?
Each trader occupied with an overall trading movement inside the territorial limits of any metropolitan corporation is needed to acquire a Trade license. The class of trade license varies from one state to another and depends on the idea of the business.
- Food stalls
- Bakeries/Ice-cream shops/Pastry shops
- Vegetable and Fruit stalls
- Meat selling outlet
- Provisions store
- Manufacturing industries
- Production Unit
- Flour mills
- Internet Cafes
- Cracker store or any business that sells hazardous materials.
Types of Trade license
Type A: This type of license would include any type of business that doesn’t have a high danger. For the most part, cafés and different types of restaurants think about this license.
Type B: This sort of license would be typically given to foundations like limited scope enterprises and medium-scale enterprises.
Type C: This sort of license is typically given to enterprises and large-scale industries. Normally, this type of foundation would have a higher danger of managing the diverse type of materials and substances. Regularly, on these premises, the norms of observing would be higher when contrasted with low and medium danger licenses.
Who are eligible for Trade License registration?
The eligibility criteria for Trade license registration in Tambaram, Chennai is as follows:
The candidate should be more than 18 years old
The candidate should not have any criminal records
The business or organization should be legally permissible
Categories of Trade license
Industrial license: This license is suitable for all small, medium, and large-scale manufacturing factories.
Shop License: This license is suitable for Dangerous and offensive trades cracker manufacturers, candle manufacturers, and other shops like a barbershop, laundry (dhobi) shop, etc.
Food establishment license: Restaurants, hotels, food stalls, canteen, the sale of meat & vegetables, bakeries, dairy store, and all kinds of eateries.
Documents required for Trade license registration:
Following are the documents you need to be ready with for Trade license registration in Tambaram, Chennai:
- Address proof of the business
- PAN of the individual in case of proprietorship, else PAN of the firm or company
- ID proof of the applicant
- Aadhaar card
- Certification of incorporating in case of Companies
- Memorandum of Association (MOA) in case of Companies
- A latest municipal property tax receipt in case the premises are owned, else lease document or consent letter of the owner of the property where the business is registered.
- NOC of the neighbors (nearby property owners)
- Certified layout plan of the office.
Submit the documents to us we PhoenixTax- Tax consultants take care of the registration process while you focus on your customers and business growth.
Advantages of trade license registration
- At the point when you have a license to operate or a trade license you will be at risk to partake in the privileges of gloating it.
- It assists with developing the distinction of the firm and draw in the clients and financial investors in it.
- It will assist with keeping up with the individual budget and business finance independently, this cycle will assist you with discovering the profits and misfortunes in the business.
- In the event that harm or injury was to happen because of the business’ activities or doings, your individual accounting records would not be at stake in any settlement; comparatively.
- Working as an authorized business might give you admittance to specific gatherings that you would not be able to join or partake in if you work under your own name. Organizations like the better business bureau, venture gatherings, and other business-arranged associations may not allow you to join if your organization isn’t authorized.
Breach or Penalties for not taking Trade License
- There are extreme results if the candidate doesn’t take the license:
- When a trade license is taken by the candidate, he/she needs to guarantee that consistency is followed and kept up with by the candidate.
- In the event that the candidate doesn’t get the trade license, then, at that point, there are various results that can be forced by the authorities.
- On the off chance that the business is begun, its tasks without important licenses, a penalty or charge would need to be paid.
- The defaulter can likewise be indicted if rebelliousness has proceeded.
Renewal of Trade License
The license can be renewed depending upon the accompanying conditions:
- Typically, these licenses are renewed between the first of January to 31st March of the particular monetary year.
- This license is legitimate for 1 year.
- The candidate needs to make an application for a trade license in India.
- The application can be made thirty days before the expiry of the declaration.
- At the point when the testament is reestablished, documents must be submitted to the particular authorities.
Process of obtaining Trade License
- Navigate to the Municipal Corporation Website and file an application for licensing. Right off the bat, select ‘Citizen Services’ choice from the menu on the particular site.
- Then signup and click on ‘Apply for Online Licenses’, here the candidate can enroll and top off all the subtleties like name, email ID, mobile number, and so forth When the candidate presents the subtleties, the website produces a User ID and Password.
- Login with the ID and Password to Apply for New License. All data referenced in the form like Type of business, NOC, Tax subtleties of your Proper assessment should be filled.
- After filling all the subtleties click on ‘submit’ and upload the necessary documents. The Application and Documents are then checked by the Urban Local Bodies authorities.
- When confirmed, a Unique Application Number will be consequently generated.
- The page will divert to the payment window where the fees have to be paid by tapping on to ‘Make payment. Here you can choose different modes of trade license payment online.
- When the prescribed fee is paid, the license number will be given.
How we help you get Trade license registration for your business
Trade license registration can be usually done online but the process to too vague that many candidates find it very stressful to do by themselves. If you are one among them don’t worry we will help you with the registration process.
- You need to submit your trade license form to our PhoenixTax- Tax consultants in Chennai. They will suggest suitable documents depending on your business requirements.
- The required documents can be submitted to us through mail
- We upload all the required documents to the relevant website on behalf of the candidate
- We will track the status of the application after the license is provided
- The soft copy and hard copy of the license will be sent to you through the mail.
We provide doorstep services for Trade license registration in Tambaram, Chennai.
Trade license processing time:
In general, it takes 7-10 days to process the application for a Trade license in metropolitan cities. However, in urban areas, it might take longer than 7-10 days.
Points to be remembered:
- The Trade license gave by the metropolitan authority is solely for the Trade or business.
- Rules and guidelines according to the issuance of a trade license changes from one state to another
3. The fee structure for the issuance of the license contrasts dependent on the idea of the business
4. A business allowed with this license will partake in more prominent altruism than an unregistered element and therefore draws in more clients and financial backers.
5. This additionally guarantees moral business practice is performed by the merchants as they need to follow wellbeing measures and rules.
6. In the event that an individual doesn’t matter for the license or before the award of the license as needed under the law and initiates any exchange or business movement then the pertinent government (authority) can force fines and punishment according to their standards and guideline. The inability to consent to pre-requirements of the exchange license can likewise bring about the conclusion of a business.