Selection of Core-Business on GST Portal

Anup मार्च 12, 2021

 



Source: As per the latest tweet of GST Tech.

Selection of Core-Business on GST Portal | One- Time Data Collection feature


What is Core-business activity? How to identify it?


Core-business activity means which kind of business you primarily deal in. For example, If you are a toy manufacturer, you may select Manufacturer in Core Business Selection.


Meaning of Manufacturer, Trader and Service Provider


Manufacturer: A manufacturer is a registered person who produces new products from raw materials and components using tools, equipment and machines and then supplies them to consumers, wholesalers, distributors, retailers, or to the other manufacturers. A manufacturer may supply some bought-out items or may provide some ancillary services with his manufactured goods, but he would be continued to be classified as manufacturer because it is the Primary Business Activity.

Trader: A trader is a registered person who engages in the buying and supplying of goods. Traders have been further classified as

👉 Wholesaler or Distributor
👉 Retailer
👉Retailer includes a registered person supplying goods through e-commerce operators.

Service Providers & Others: A service provider is a registered person who provides services to the recipient of services and is neither a manufacturer nor a trader.
Banking service, IT Service, works-contract service, agents, intermediaries, GTAs, etc.
What if More than One Category Applies to Me?

In case you fall in all the three categories, please select the option which has the largest component in your business activity, based on turnover.

For example, if your annual turnover is Rs. 5 Crore out of which Rs. 1 Crore is contributed by manufacturing, 2.5 Crore from trading and remaining Rs. 1.5 Crore from services and others...

👉 Trading will be my Core business activity.





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