Wednesday, October 5, 2022
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Select & Edit Core Business on GST portal

Core Business Selection

GST Department recently updated the portal that required registered taxpayers to provide information regarding the Core Business they are into.

This additional information is mandatory in nature and the user has to select the most appropriate among the available options.

core business selection

The registered taxpayer can only select one core business among the available options i.e.:

  • Manufacturer
  • Trader
  • Service Provider and others

Let us understand who is covered under these terms first:

  • Manufacturer:

Who produces new products from raw materials and components using tools, machines & equipment, and then sells to the consumers, wholesalers, retailers, distributors, or to other manufacturers.

A manufacturer may sell some more brought-out items or may provide some ancillary services with his manufactured goods, but he would continue to be classified as a manufacturer because it is the primary business activity.

  • Trader
core business selection trader
Who engages in the buying and selling of goods. Further, traders have been classified under the following categories:
  • Wholesaler or Distributor
  • Retailer

Note: The registered person who is selling goods through any of the digital platform provided by the ECO (e-commerce operator) has to select “Retailer”.

  • Service Provider and Others

Who provides service to a recipient of service and is neither a manufacturer nor a trader.

It includes but not limited to banking services, works-contract service, agents, intermediaries, GTAs, IT service, etc.

However, in those cases where more than one activity or all the available options are applicable, the taxpayer has to select the core business activity they are into in.

Option C i.e., others include work contract and other miscellaneous items.

Once you have selected the core business activity, you can edit or change the same in future by following the below mentioned steps:

  1. Visit GST Dashboard
  2. My Profile
  3. Core Business Activity Status
change your core business activity

In case of change of core business activity, the taxpayer has to provide the reason for such a change in core business activity.

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