Regarding Vertical GST registration

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This discussion clarifies that separate books of account, stock, and turnover are mandatory when registering for vertical GST. While inter-unit transfers between these verticals are not considered sales or branch transfers, you must issue a tax invoice and claim Input Tax Credit (ITC) for such movements.

SHYAM KRISHNAN K

SHYAM KRISHNAN K (Querist)

22 July 2021 Is it mandate to maintain seperate Books of account in case of GST Verticle Registration?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

22 July 2021 Yes, separate books are required, separate stock and turnover to be maintained, to file separate GST return.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

23 July 2021 Separately as both business are separately shown on GST Portal.

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SHYAM KRISHNAN K

SHYAM KRISHNAN K (Querist)

23 July 2021 In case of goods/service transferred between these vertical unit have to be consider as branch transfer/sale?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

23 July 2021 It will not be considered as sale/branch transfer.

SHYAM KRISHNAN K

SHYAM KRISHNAN K (Querist)

23 July 2021 How can I move my goods between these units .

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

23 July 2021 I am correcting my earlier reply. Treat it as sale issue tax invoice and claim ITC.

SHYAM KRISHNAN K

SHYAM KRISHNAN K (Querist)

23 July 2021 Could you please specify the section dealing this matter

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

23 July 2021 See the link.

https://www.gstzen.in/a/separate-registration-for-multiple-business-verticals-within-a-state-or-a-union-territory-cgst-rule-11.html

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