Activity code

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Querist : Anonymous (Querist)

12 March 2010 Activity code for reseller in ferrous & non ferrous metal

CA HIREN JOGI

CA HIREN JOGI (Expert)
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14 March 2010 There is an activity code for the Manufacturing of Ferrous Metals, but as regards reseller, there is no specific entry. What I suggest is to classify it under 4690 - Non Specialised Wholesale Trade if the reseller deals in Wholesale and in case he is a retailer, you can alternately use the code 4719 - Other Retail Sale in Non Specialised Stores.

Asha Kanta Sharma

Asha Kanta Sharma

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14 July 2024 The activity code for reselling (wholesaling) of ferrous and non-ferrous metals typically falls under specific classifications used in business and taxation records. In various classification systems, such as NIC (National Industrial Classification) or NAICS (North American Industry Classification System), these codes categorize economic activities for reporting purposes. Here's an example of how such an activity might be classified:

### Example Activity Code (for India, based on NIC 2008):
- **NIC Code**: 46720
- **Description**: Wholesale of metals and metal ores (except precious metals)

### Explanation:
- **NIC (National Industrial Classification) Code**: This code is used to classify economic activities into different categories. The code 46720 specifically pertains to the wholesale of metals and metal ores, excluding precious metals.
- **Description**: It indicates that the business activity involves wholesaling (reselling in bulk) of various metals, including both ferrous (iron and steel) and non-ferrous metals (e.g., aluminum, copper, zinc, etc.).

### How to Use:
- When registering a business or filing tax returns, you might be required to specify the NIC code that best describes your business activity. This helps authorities classify and analyze economic activities within different sectors of the economy.
- NIC codes can vary by country and may be updated periodically. It's essential to refer to the latest classification system applicable to your jurisdiction.

### Note:
- For specific regulatory or compliance purposes, especially if you are operating outside India, you should refer to the relevant classification system in your country or region.
- Consulting with a professional accountant or tax advisor can provide tailored guidance based on your specific business activities and location.

If you need further details or clarification, please feel free to ask!

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