Section 2(18) of CGST Act 2017 :"Business Vertical" means 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.
Example - Reliance Retail has the following Business Vertical:
a) Reliance Fresh
b) Reliance Digital
c) Reliance LYF
d) Reliance Jewels
e) Reliance Time Out
f) Reliance Market
g) Reliance Trends, Reliance Footprints and Reliance Living
Explanation––For the purposes of this clause, factors that should be considered in determining whether goods or services are related include––
(a) the nature of the goods or services.
(b) the nature of the production processes.
(c) the type or class of customers for the goods or services.
(d) the methods used to distribute the goods or supply of services and
(e) the nature of regulatory environment (wherever applicable), including banking, insurance, or public utilities.
Example - Reliance Retail has the following Business Vertical:
a) Reliance Fresh
b) Reliance Digital
c) Reliance LYF
d) Reliance Jewels
e) Reliance Time Out
f) Reliance Market
g) Reliance Trends, Reliance Footprints and Reliance Living
Explanation––For the purposes of this clause, factors that should be considered in determining whether goods or services are related include––
(a) the nature of the goods or services.
(b) the nature of the production processes.
(c) the type or class of customers for the goods or services.
(d) the methods used to distribute the goods or supply of services and
(e) the nature of regulatory environment (wherever applicable), including banking, insurance, or public utilities.
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