GSTIN issues advisory on new functionality of Classification of Taxpayers
GSTIN issues advisory on new functionality of Classification of Taxpayers The advisory is as follows: Taxpayers are required to select their business…
Reetu
Mar 16, 2021GSTIN issues advisory on new functionality of Classification of Taxpayers
The advisory is as follows:
Taxpayers are required to select their business activity only once, as - Manufacturer, wholesaler/Distributor/ Retailer, service providers & others post-login based on the highest turnover amongst them. You can change the same later.
Source: GST Portal
So what we understand is, that there was confusion that while selecting core Activity, what will taxpayer select if he is involved in more than 2 types of business activity?
For Example, a Taxpayer is involved in Trading as well as Service. What should he select in such a case?
In that case, he shall select the Activity from which he is having the Highest turnover amongst Trading and Service.
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Reetu
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Reetu is a Content Writer with 4+ years of experience in GST, Income Tax, Finance, Company Law, Education and Career Related Content. She is a B.COM (Honrs.) Graduate.
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Delhi, Delhi, India
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