How to differentiate Business vertical with Reverse Charge?
What is Business vertical? How does Reverse Charge work under GST regime? What are the difference between Business vertical and Reverse Charge?
Under GST system, the following information explains about Business vertical and Reverse Charge.
As per GST terms, Business vertical means a distinguishable component of an enterprise that is engaged in the supply of individual goods or services or a group of related goods or services which is subject to risks and returns that are different from those of the other business verticals. Reverse Charge means the liability to pay tax by the recipient of supply of goods or services or both instead of the supplier of such goods or services or both under sub- section (3) or sub-section (4) of section 9, or under sub-section (3) or sub-section (4) of section 5 of the Integrated Goods and Services Tax Act.
The details about Business vertical and Reverse Charge with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Business vertical and Reverse Charge, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Business vertical and Reverse Charge separately below. You may kindly read the below links to know more about Reverse Charge and Business vertical.
Term business vertical under GST
Meaning of Reverse Charge under GST
The above information easily explains about Reverse Charge and Business vertical.
We hope, you have satisfied with the difference between Business vertical and Reverse Charge explained above. Do you have different thought on difference between Reverse Charge and Business vertical?
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