Definition
A business vertical means a distinguishable component of an enterprise engaged in supplying individual products or services, subject to risks and returns that are different from those of other business verticals. (Earlier defined in Accounting Standard 17, though GST now simply allows “distinct persons” registration for each place of business or vertical).
✅ Requirements to Obtain Separate GST Registration for Business Verticals
1. Same PAN
- Separate business verticals must belong to the same legal entity (i.e., under the same PA2N).
2. Different Business Verticals
- Each vertical should have separate accounts, risks, and returns.
- Example: A company running both manufacturing and consultancy services may treat them as separate verticals.