Option for selecting core business activity enable on GSTN
Now we need to provide to GSTN if we are a Manufacturer, Trader and Service Provider.
FAQs related to this new portal update are given below:
What kind of core business activities can be selected?
- Trader and
- Service Provider
What is the Meaning of Manufacturer, Trader and Service Provider?
A manufacturer is a registered person produces new products from raw materials and components using tools, equipment’s and machines and then sells them to the consumers, wholesalers, distributors, retailers or to the other manufacturers. A manufacturer may sell some more brought out items or may provide some ancillary services with his manufactured goods, but he would continue to be classified as manufacturer because it is the Primary Business Activity.
A trader is a registered person who engages in the buying and selling of goods. Traders have been further classified as –
- Wholesaler or Distributor
Retailer includes a registered person selling goods through e-commerce operators.
SERVICE PROVIDER AND OTHERS
A service provider is a registered person who provides service to a recipient of service and is neither a manufacturer nor a trader.
e.g. Banking service, IT service, works-contract service, agents, intermediaries, GTAs etc.
Can I select more than one business Activity?
You can select only one core business activity.
What if I am involved in all three business activities?
In case all activities are applicable to you, kindly select your core business activity.
What includes in other business Activities?
Others will include Work Contract and Other Miscellaneous Items.
Can I change my activity in the future?
Yes, you can change your activity in the future.
You can do it by navigating to MY PROFILE > CORE BUSINESS ACTIVITY STATUS.