Section 2(18) in The Jammu and Kashmir Goods and Services Tax Act, 2017
(18)"business vertical" means a distinguishable component of an enterprise that is engaged in the supply of an 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.Explanation. - For the purposes of this clause, factors that should be considered in determining whether goods or services are related include-(i)the nature of the goods or services;(ii)the nature of the production processes;(iii)the type or class of customers for the goods or services;(iv)the methods used to distribute the goods or supply of services; and(v)the nature of regulatory environment (wherever applicable),including banking, insurance or public utilities;
