Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 14-9-2017 – Business Section 2(17) of Central Goods and Services Tax Act, 2017 ( Act for short) defines the term business as including the following- (a) any trade, commerce, manufacture, profession, vocation, adventure, wager or any other similar activity, whether or not is for a pecuniary benefit; (b) any activity or transaction in connection with or incidental or ancillary to sub-clause (a); (c) any activity or transaction in the nature of sub-clause (a) whether or not there is volume, frequency, continuity or regularity of such transaction; (d) supply or acquisition of goods including capital goods and services in connection with commencement or closure of business; (e) provision by a club, association, society or any such body (for a subscription or any other consideration) of the facilities or benefits to its members; (f) admission, for a consideration, of persons to any premises; (g) services supplied by a perso
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8) of the Act defines the expression Business vertical as 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. The explanation to this section provides that the following factors should be considered in determining whether the goods or services are related include- the nature of the goods or services; the nature of the production processes; the type or class of customers for the goods or services; the methods used to distribute the goods or supply of services; and the nature of regulatory environment (wherever applicable), including banking, insurance or public utilities. Registration Section 25 provides the procedure for registration. Section 25(2) provides that a person seeking registration under this Act shall be granted a single registration in a State or Union territory. However a person h
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hall pay under the Act on supply of goods or services or both made to another registered business vertical of such person and issue a tax invoice for such supply. The explanation to this sub-section clarified that where any business vertical of a registered person that has been granted a separate registration becomes ineligible to pay tax under section 10, all other business verticals of the said person shall become ineligible to pay tax under the said section. Units in SEZ The proviso to Rule 8(1) provides that a person having unit(s) in a Special Economic Zone or being a Special Economic Zone Developer shall make a separate application as a business vertical distinct from his other units located outside the Special Economic Zone. Registration procedure A registered person eligible to obtain separate registration business verticals may submit a separate application in form GST REG – 01 in respect of each such vertical; The application shall be forwarded to Superintendent of Central Ta
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fication, information or documents electronically in Form GST REG – 04 within a period of seven working days from the date of receipt of such notice; If the Superintendent is satisfied with the clarification, information or documents furnished by the applicant, he may approve the grant of registration to the applicant within a period of seven working days from the date of the receipt of such clarification or information or documents; If no reply is furnished by the applicant in response to the notice issued or where the Superintendent is not satisfied with the clarification, information or documents furnished, he shall for reasons to be recorded in writing, reject such application and inform the applicant electronically in Form GST REG – 05; Deemed Registration If the Superintendent fails to take any action- within a period of three working days from the date of submission of the applicant; or within a period of seven working days from the date of receipt of the clarification, informat
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