Difference between Single Business vertical and Registered Person under GST terms
What is Registered Person under GST? How does Single Business vertical work under GST regime? What are the difference between Registered Person and Single Business vertical?
Every supplier shall be liable to be registered under this Act in the State or Union territory, other than special category States, from where he makes a taxable supply of goods or services or both, if his aggregate turnover in a financial year exceeds twenty lakh rupees.
A Single Business vertical market is a market in which seller offer goods and services specific to an industry, trade, profession, or other group of customers with specialized needs. It is distinguished from a horizontal market, in which vendors offer a broad range of goods and services to a large group of customers with a wide range of needs, such as businesses as a whole, men, women, households, or, in the broadest horizontal market, everyone.
The details about Registered Person and Single Business vertical with simple language from GST terms have been mentioned in this web blog separately. We suggest you to read these articles on Registered Person and Single Business vertical, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Registered Person and Single Business vertical separately below. You may kindly read the below links to know more about Single Business vertical and Registered Person.
Who is Registered Person under GST
What is Single Business vertical under GST
The above information easily explains about Single Business vertical and Registered Person.
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Section 1 of UTGST Act 2017
Section 172 of CGST Act, 2017 Removal of difficulties
Section 170 Rounding off of tax, CGST Act, 2017
Sec 168 of CGST Act, 2017 Power to issue instructions or directions
Section 163 of CGST Act, 2017 Levy of fee
Publication of information in respect of persons in certain cases, Section 159 of CGST Act, 2017
Section 156 Persons deemed to be public servants, CGST Act, 2017
Power to collect statistics, Section 151 of CGST Act, 2017
Goods and services tax compliance rating, Sec 149 of CGST Act, 2017
Term Non-Filers and Late-Filers under GST
Term non-taxable supply under GST
What is Invoice under GST
Non Registered person under GST
Exemptions under GST Registration
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