Single Business vertical and Foreign Non-resident Taxable Person

Posted on 11 June 2022 Category : GST terms difference

How to differentiate Foreign Non-resident Taxable Person with Single Business vertical?

What is Foreign Non-resident Taxable Person? How does Single Business vertical work under GST regime? What are the difference between Foreign Non-resident Taxable Person and Single Business vertical?

Under GST system, the following information explains about Foreign Non-resident Taxable Person and Single Business vertical.

As per GST terms, “Foreign Non-resident Taxable Person” means any person who occasionally undertakes transactions involving supply of goods or services or both, whether as principal or agent or in any other capacity, but who has no fixed place of business or residence in India. 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 Foreign Non-resident Taxable Person and Single Business vertical with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Foreign Non-resident Taxable 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 Foreign Non-resident Taxable Person and Single Business vertical separately below. You may kindly read the below links to know more about Single Business vertical and Foreign Non-resident Taxable Person.

Term Foreign Non-resident Taxable Person under GST

What is Single Business vertical under GST

The above information easily explains about Single Business vertical and Foreign Non-resident Taxable Person.

I hope, you have satisfied with the difference between Foreign Non-resident Taxable Person and Single Business vertical explained above. Do you have different thought on difference between Single Business vertical and Foreign Non-resident Taxable Person?

Share below your thoughts about Foreign Non-resident Taxable Person and Single Business vertical

Learn Exports Imports Free, Click here

Click here to know GST rate of your goods or service

Refund of Input Tax Credit (ITC) of GST, FAQ
Refund of GST paid in India, FAQ
4 Conditions when applying for refund of Input Tax Credit (ITC) under GST
Difference between types of goods and services and types of GST
4 types of Goods and Services in India for GST rate
Difference between IGST on International goods and IGST on domestic goods.

How is IGST calculated under Imports?
How is IGST rate on imports treated?

GST and e-Commerce Business, FAQ

Definition of E-Commerce under GST

TDS under GST, Frequently Asked Questions

Does Interest attract on GST Tax payment delay?

Mechanism of Payment of GST tax in India

Levy of late fee for GST Tax returns filing in India

Notice to GST return filing defaulters