What is the cost of Gumasta license in Mumbai?
What is the cost of a Gumasta license in Mumbai?
A Gumasta license is a registration required for businesses operating in Maharashtra. It is issued by the BMC or Municipal corporation of Mumbai, under the Maharashtra Shops and Establishment Act, 2017. The cost of a Gumasta license in Maharashtra can vary depending on the type of business and the establishment’s location. The fees for a Gumasta license can vary between Rs. 2,500 to Rs. 10,000 or more. However, the fees may vary depending on the specific requirements and regulations of the local municipal corporation or other authorities.
Importance of Gumasta License
To start a business in Maharashtra, entrepreneurs require Gumasta License. After getting the Gumasta License, any individual can start their business in Maharashtra at the desired location or area of Maharashtra.
Applicability of Gumasta License
Business Owners, Self-employed, Entrepreneurs, Professionals, Private and Public Limited Companies, Partnerships, sole proprietorships, and LLPs interested in physical shops, Commercial shops, and hotels in Maharashtra require Gumasta License.
Eligibility Criteria to Obtain Gumasta license
The eligibility criteria for obtaining a Gumasta license in Maharashtra may vary depending on the nature of the business and other factors. However, the following are the general eligibility criteria for obtaining a Gumasta license
- The business must be located in Maharashtra and engaged in a commercial activity.
- The business must be registered with the relevant authorities, such as the Registrar of Companies (RoC), Goods and Services Tax (GST), and other relevant agencies.
- The business must have employees eligible to work in IndiaEvery business with ten or more working employees requires a Gumasta License.
- The business must have a valid address in Maharashtra, and The business must be owned and operated by an individual or a legal entity.
Components of Gumasta License
- Name and year of establishment
- Nature of business
- Name of the employer
- Number of workers or employees
- Other business-related details and information
Benifits of Gumasta License
A Gumasta license is proof that a business is registered with the Government and is operating legally. This can help businesses establish trust with customers and other stakeholders.
- Gumasta license online registration is one of the essential documents needed for any business to be recognized legally by every bank and Non-Banking Financial Company (NBFC) for Maharashtrian people.
- The Gumasta License is the primary document to apply for a Bank Loan, open a Current Account in the firm’s name, and register GST.
- Gumasta license helps business owners gain various benefits from schemes arranged by the Government.
- Without the Gumasta License, the business cannot avail of tax benefits under various schemes or incentives introduced by the Government of Maharashtra.
Validity of the Gumasta License
A Gumasta license is issued for at least one year and can be renewed annually. However, the licensing authority may sometimes grant a Gumasta license for up to 10 years.
It is important to note that the validity of the license also depends on the terms and conditions specified by the licensing authority, and businesses must ensure that they comply with these requirements to avoid any legal or regulatory issues.
Cost of Gumasta license
The cost of a Gumasta license in Mumbai, or any other city in Maharashtra, can vary depending on the type of business and the license duration. The fees for a Gumasta license are typically determined by the city’s municipal corporation where the business is located. It also depends on the type of business and the number of employees.
Penalty
Any business owner who fails to provide the necessary registration documents or runs an establishment without a license is subject to heavy penalties. Similarly, if their Gumasta License has expired and the establishment owner hasn’t renewed the license, a late fee of 50% of the total renewal fee will be charged.
