Sometimes, the registration certificate is granted or previously renewed for a period of three years. This late fee or additional fee amounts to half of the fee payable for the renewal of a registration certificate or of the renewed registration certificate (as the case may be). after the expiry of the registration period, but within thirty days after the expiry date, the late fee is charged for issue of the renewed registration certificate. In case the application for renewal of registration is submitted late i.e. This has to be accompanied with a fee prescribed in the Act. An application has to be filed for its renewal which shall be submitted within 15 days before the date of expiry of the registration certificate or the renewed registration certificate (if the registration has previously been renewed. The Gumasta License granted under the sub-section (2) of the Bombay Shops and Establishment Act, 1948 are valid for a period of one year. To continue business operations legally, renewal of Gumasta is as important as its registration. Once the time period of registration is over, it requires a renewal. It can be issued for a longer period after the prescribed fee is paid in this regard. While the government tries to maintain records through this registration, the registration is usually issued for a period of one year. Many banks consider this registration as a prerequisite for opening business bank accounts. Moreover, it gives the employer the right to pursue business. The registration is an essential proof of legal entity for a shop, firm, or business. Irrespective of the turnover of the business, all businesses require this registration if the employees working in the business organization are 10 or more than 10. The application process is looked after by the Municipal Corporation of Greater Mumbai. Gumasta license is one such registration certificate that is issued by the Bombay Shops and Establishment Act in Mumbai. One such state governing these registrations in Maharashtra. For any type of business to have a physical presence in India, registration is provided under the provisions of this state-specific act by the local authority, which is primarily the Municipal Corporation. While each state in India has their own specific issues relating to it, each state has also issued their own state-specific shops and establishment act. When an individual aspires to commence business opera tion in any part of the country, acquiring a registration under the Shops and Establishment Act is essential.
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