Gst registration
This query is : Resolved
05 December 2017
if I am in 2 business lines, then can I take registration for both under common GSTIN (by providing 2 HSN under single registration)
12 October 2021
Yes, or you can have vertical business registration of both the firms ..
Section 2(18) of CGST Act 2017 defines the term Business Vertical.
As per this section, Business Vertical means a distinguishable component of an enterprise that is engaged in the supply of individual goods or services or a group of related goods or services which is subject to risks and returns that are different from those of the other business verticals.
In other words, business vertical is a component of business which is:
Distinguishable from other businesses of an entity because of different:
nature of goods or services or both
nature of Production process
type of customers
class of customers
distribution system
nature of regulatory environment
One business component is different from another business component for its Risks and returns.
Section 2(18) of CGST Act 2017 defines the term Business Vertical.
As per this section, Business Vertical means a distinguishable component of an enterprise that is engaged in the supply of individual goods or services or a group of related goods or services which is subject to risks and returns that are different from those of the other business verticals.
In other words, business vertical is a component of business which is:
Distinguishable from other businesses of an entity because of different:
nature of goods or services or both
nature of Production process
type of customers
class of customers
distribution system
nature of regulatory environment
One business component is different from another business component for its Risks and returns.
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