GST website gets updated every few days and now they have come up with another update where the taxpayer is required to choose the one core business activity of the GST number before login.
This needs to be done only once in lifetime when you login. Once you have selected the core business activity you don’t have to select it everytime you login.
There are 3 options available under this:
- Service provider and others.
Now, many people who do various businesses such as manufacturing, trading and services under one GST number might be wondering how can they select one core business activity when they are providing all 3 of them.
The answer to same is One needs to select the business activity which gives them maximum turnover.
Further, it has been clarified that other in the 3rd point above shall include works contract and other miscellaneous items.
The window would look as under:
GST department has even defined the three categories and one could know its meaning by clicking on information button above or same is as under:
While bringing this new feature GST website mentioned as under:
“Taxpayers are required to select their business activity only once, as – Manufacturer, wholesaler/ Distributor/ Retailer, service providers & others post login based on highest turnover amongst them. You can change the same later.”
Hence, it can be said that GST department is doing this just to collect information and segregate taxpayers according to their core businesses.