Every year, thousands of shops get registered in India, it is compulsory for the shop owners to obtain a shop act license for the betterment of employees and to maintain the working conditions. This license acts as an essential permit for any business, even if it is operated by a solitary individual or a large scale association, to be perceived by the government or bank. The shop act license is basically a type of legal permission that allows people to do business at a particular place. If any individual has a physical shop or office, it is essential to obtain a license. The license acts as proof of a particular business being done at that place.
An example of this is, in Maharashtra, the Shop and Establishment Act is commonly called GUMASTA in the regional language. All the shops there have to be registered under this act. It is administered by the Municipal corporation of Mumbai and permits to run your business at that place. The Shop and Establishment Act in India is facilitated by the state governments, but it slightly varies from state to state. All the shops and commercial establishments functioning within a particular state are covered by this act.
FUNCTIONS AND BENEFITS OF THE SHOP AND ESTABLISHMENT ACT IN INDIA
1) Regulates and maintains the conditions of work and employment at the places mentioned below.
b) Commercial establishments
e) Other places of public entertainment
2) It provides a chartered and legal obligation and rights to employees in the unorganized sector of employment.
3) The application for the license in the prescribed form should contain the following details:
a) Name of employer
b) Address establishment
c) Name of the establishment
d) Category of establishment
e) Number of employees
f) Other details that might be asked for
4) It also controls and tackles problems related to important issues like the installment of wages, holidays and leaves, and long periods of work. The Shop and Establishment Act in India is facilitated by the state governments, but it slightly varies from state to state. All the shops and commercial establishments functioning within a particular state are covered by this act.
5) The shop is registered only after the submission of the application and review by the chief inspector.
6) The shop or commercial establishment will be further registered, and a registration certificate will be issued to the occupier.
7) This license issued must be prominently displayed at the shop or commercial establishment and should be renewed periodically as per the act.
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INTRODUCTION TO MSME AND GST REGISTRATION
MSME refers to Micro, Small and Medium Enterprises, MSME industries have become the backbone of the economy of India.
The Limited Liability Partnerships (LLP), Private Limited Company (Pvt. Ltd.), can also apply for MSME registration. While it is not compulsory to apply for MSME registration, it is essential to reap benefits in terms of taxation, loans, and credit facilities.
The registration can be done by any small and medium scale industry owner who needs to fill the application form either online or offline.
For some businesses, registration under GST is compulsory, if the business is carried on without registering, heavy penalties will apply. GST refers to Goods and Services tax, the ongoing GST regime, any business whose turnover exceeds Rs.40 lakhs needs to register as a normal taxable person, this process of registration is called GST registration.