What is Gumasta License?
To conduct business in the state of Maharashtra, it is mandatory to obtain a Gumasta License. This license is governed by the Municipal Corporation of Mumbai under the Maharashtra Shops and Establishment Act and is essential for any business to be recognized by the government or banks, regardless of its size. It authorizes the business to operate at a specific location, ensuring smooth business development. Obtaining Gumasta License is a prerequisite for opening a current account or obtaining a loan from a bank. In Maharashtra, GST registration cannot be obtained without this license.
Why is Gumasta License important?
The Gumasta License is necessary for anyone planning to establish a shop or commercial establishment in Maharashtra, and can be obtained by any citizen, employer, employee, or company. Additionally, employers with more than 20 workers must also apply for this license.
Rietway Consultants Gumasta License Package
The Services which are included in our package are as Follows:
✅ Consultation
✅ Preparation of Documents
✅Application Filing
✅Gumasta License
Documents Required for Gumasta License
- To apply for the Gumasta License, you will need to provide your Certificate of Incorporation, Partnership Deed, or MSME registration document.
- The Memorandum of Association and Articles of Association of the company are also required.
- A copy of the company’s PAN card is necessary.
- You will need to submit identification and address proof documents for all partners involved.
- The number of employees working in the establishment must be provided.
- Proof of the registered office, such as an electricity bill, is also required.
Gumasta License Procedure
Step -1 Arrange all Required Documents: The first step is to arrange all the documents and send the same over the email / WhatsApp to us. Once all the Documents are Received, we will Start the Further Process.
Step – 2: Preparation of Documents: The Next Step is Preparation of Documents to be Submitted at Department.
Step – 3: Filling of Application For Gumasta: The next Step is Filling Of Application for Gumasta.
Step – 4: After Scrutiny and approval of the application Department Issues Gumasta License. License Renewal, Fees & Penalty.
The Gumasta license is a one-time requirement for people in Maharashtra and is valid for a lifetime. However, the fees and charges for obtaining the license may vary depending on the state and the policies, guidelines, and procedures of the government. Failure to obtain or renew the license may result in heavy penalties of approximately Rs. 1 lakh and an additional fee of Rs. 2000 per day. For repeat offenders, the penalty charge may be as high as Rs. 2 lakh..
Benefits of Gumasta License
Avail tax subsidies from the Maharashtra State Government.
Acts as a proof of legal entity that provides the right to conduct business in Maharashtra.
Several banks accept Gumasta license as an identity proof to open business bank account.
Cancellation of Gumasta Certificate/License
If a person wishes to cancel their Gumasta license, they must submit a notice stating their intent to cancel the license. If an employer does not submit their statement and necessary documents within 10 days of receiving the notice, their registration may be canceled.
FAQs
What is Gumasta License?
Gumasta license is a type of registration required to do any kind of business in the state of Maharashtra.
Is it Compulsory to take Gumasta License?
Yes, if you want to start a business in Maharashtra then it is mandatory to get this license otherwise the penalty charges for not having license can go up to Rs. 2 lakh per applicant.
What is the validity of Gumasta?
The validity of Gumasta License is for the lifetime.
Is there any difference between Shop Act Registration and Gumasta?
There is no difference between these two, as the word ‘Gumasta’ is derived from Persian language ‘Farsi’ and it means ‘agent’.