Trade License in Ranchi is required by every person doing any type of business or trade in Jharkhand. Under the ease of doing business scheme government of Jharkhand has devised a 1 day approval system for Trade license in State. Under this scheme Provisional Trade License is issued within 1 day and the application for trade license is processed within a maximum of 22 days. If the Trade License is not issued or rejected within 22 days, then the provisional Trade License shall be considered as final.
License fee is charged yearly over the Trade License issued, the quantum of license fee depends upon the area of office. Larger the area higher will be the license fee. Trade license once issued shall be liable to yearly license fee unless surrendered, if the license fee is not deposited on time an additional fine shall be charged form the license holder for the said period. For applying Trade license in Jharkhand the applicant is required to obtain clearance from the Municipal Corporation for the use of plastic bags and other dry and wet wastages. Trade license is valid for lifetime subject to yearly license fee payment and can be surrendered voluntarily by the applicant once the business is discontinued. Department can order inspection of the premise used for business any time during the license period. Trade License is one of the basic KYC requirement for starting a new business in Jharkhand.
DOCUMENTS REQUIRED FOR APPLYING TRADE LICENSE IN JHARKHAND:
- PAN and Incorporation Details of the business
- Address proof of business
- KYC details of Authorized representative