A new feature that requires the taxpayer to choose one primary business activity on the GST Portal has been activated by the GSTN.
Taxpayers are only required to choose their business activity once because service providers, manufacturers, wholesalers, distributors, retailers, and others submit logins based on which has the biggest annual revenue. You can alter this at a later time.
The term "core business activity" refers to the industry in which you typically operate.
For instance, you may choose "manufacturer" under Core Business Selection if you create soap.
Based on the following criteria, one may select ANY ONE of the aforementioned activities:
Manufacturing
A manufacturer is a registered individual who creates new items using components and raw materials and uses machinery, tools, and equipment before selling them to customers, wholesalers, distributors, retailers, or other manufacturers. Additionally, a manufacturer may sell additional items that have been brought to market or may offer supplementary services in addition to his manufactured goods, but he would still be categorised as a manufacturer because it is his Primary Business Activity.
Trader
A recognised individual who transacts in the purchasing and selling of products is a trader. Traders are also known as wholesalers, distributors, and retailers. A registered individual who sells things via online retailers is considered a retailer.
Provider of Services and Others
Neither a producer nor a merchant, a service provider is a registered individual who renders services to a recipient of services.
The procedure is to designate your primary business as a manufacturer, trader, service provider, etc. via a new pop-up window that appears when you first visit the GST Portal.
- Notably, you can only choose one primary business activity.
- If any of the activities apply to you, please choose your main line of business.
- The Works Contract and other unrelated things will be among the others.
- Additionally, you can modify it in the future by going to My Profile -> core business activity status.
