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A trade license is a document or certificate that authorizes an applicant to start a specific trade or business in a particular place or territory. To start a business within a state, corporation, or municipality, the involved entity will need a trade license from the concerned government. The applicant must apply to the competent municipal authorities to get a trading license.
The state municipal corporations issue the trade license. The procedure for obtaining a license differs from state to state. The trade license ensures that the business or trade is carried out following all of the state municipal corporation's safety regulations. A trade license can only be issued at commercial establishments where the government has not placed any restrictions on the conduct of business. The application for trade registration must be submitted within 30 days after starting a business. The holder of the license is not permitted to engage in any other trade or business than that for which it has been issued.
To whom is trade license given?
Small, medium, and large-scale manufacturing factories, firewood vendors, cracker manufacturers, candle manufacturers, barber shops, restaurants, hotels, food stalls, canteens, and other businesses are granted trade licenses.
Advantages of acquiring a trade license
There are several advantages of acquiring a trade license. Know them below:
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