Gumasta License is an organization governed by the Municipal Corporation of Greater Mumbai under the Maharashtra Shops and Establishment Act 1948.
Gumasta License is a registration required in Maharashtra to undertake any kind of business in the state, whether it involves some goods or services. The Municipal Corporation of Mumbai grants a certificate which allows a business to perform its activities legally in its shop or establishment.
Gumasta License gives recognition to a business before any Government or Bank for different purposes.
For instance, once the business obtains a Gumasta license, it can avail certain tax subsidies from the Maharashtra Government, along with other business benefits.
Entrepreneurs must get used to learning new and complicated concepts all the time, at least until such time as their operations are large enough to support a person or firm managing legal compliance.
The one term that gets discussed too often is Gumasta license.
When any one person wants to start a business in India then you require a very important license that is called Gumasta License. Basically in India when you start any type of business with physical shop then it's required the shop act license from your local municipal party. So these shop act licenses are called “Gumasta license” in India.
Even if you want to start a small new trading business or service based business, in the starting before any tax registration you require the Gumasta License so you can open a current bank account on your firm name.
To do commercial business in Thane, Gumasta license is must.
For every commercial entity without a Gumasta license, it cannot apply for current account and without current account GST is not possible.
If you want to start a small new trading business or service based business in Thane. In the starting before any tax registration, you need to have a Gumasta License so you can open a current bank account with your firm name. A gumasta license is mandatory to do any sort of trading in the business markets of Thane.