A trade license is a certificate that allows companies to carry on business and trade activities. It is a mandatory document to be applied for and needed when registering for a lot of the other documentation processes. In Tripura, trade license is issued by the Municipal Corporation of Agartala (AMC) to traders and establishments with the sole purpose of regulating and monitoring their trade activities at the city level.
The registration process requires a couple of documents that have to be ready when dealing with
the registration process. If they are all ready, the application process takes no time.
* Details of Employer or Manager
* Memorandum and Articles of Association, Trust deed, or Partnership Deed
* Lease Rent Agreement or the Premises purchase Agreement
* List of Directors, Managers and Partners
* Bank Account details, including the number and IFSC code
* First Income Tax Assessment order or PAN card details
* BMC declaration
* Date of commencement of business
According to the Government, applying for and receiving a trade licence is mandatory to ensure no individuals carry out unethical business practices and follow the relevant rules, safety measures, and guidelines. Getting a business licence protects owners against certain liabilities. If any damages or injuries take place due to the actions of a business, the personal finances of the owner are not at stake, when it comes to the settlement. The various trade licenses offer different levels of protection.
Much like all licences, there is a renewal process for trade licences as well. In most cases, this needs to be taken care of annually.Another prominent process that shops and establishments have to handle is applying under the Shops and Commercial Establishment Act, 1969. Since the municipality handles this, shops have to apply to the respective one that they come under, across the state of Tripura. The process of getting this done is quite simple and requires the submission of an application to the Inspector.
Applications and supporting documents have to reach the Inspector within 30 days from the
establishment opening. If there is a further delay, it could lead to fines and penalties. There is a
fixed fee to be paid for this to get through as well.
The application should contain
a) the name of the employer and manager
b) The name and postal address of the establishment
After receiving the information, and verifying all the documents, if everything checks out, there will be an in-person inspection of the premises. After inspecting the location, filling the details in the Register of Establishments, and the enterprise received a registration certificate. This certificate is valid for five years and needs to apply for the renewal process after. This certificate has to be on display at the establishment by law.
It keeps a check on the conditions of work, lists rights of employees in the unorganised sector, and provides a list of obligations for every employer. It applies nationwide to shops, commercial establishments, hotels, restaurants, eating houses, theatres and other places of public amusement or entertainments.