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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- TDS on TRUST
- Putting a heading on received mail
- Regarding Applicability of Tax Audit u/s 44AB
- Consolidated financials
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Withdrawal in cash from partners capital account by partner
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
