GTAs Exempted From Yearly Declaration For GST Under Forward Charge: CBIC

The Central Board of Indirect Taxes and Customs (CBIC) on the recommendation of the 50th Meeting of the GST Council has notified the Goods Transport Agency (GTAs) exempted from yearly declaration for gst under forward charge.

The GTAs will not be required to file a declaration for paying GST under forward charge every year with effect from July 27, 2023.

If they have exercised this option for a particular financial year, they shall be deemed to have exercised it for the next and future financial years unless they file a declaration that they want to revert to the reverse charge mechanism (RCM).

“The option exercised by GTA to itself pay GST on the services supplied by it during a Financial Year shall be deemed to have been exercised for the next and future financial years unless the GTA files a declaration in Annexure VI to revert under reverse charge mechanism on or after the 1st January of the preceding Financial Year but not later than 31st March of the preceding Financial Year,” the notification read.

The Board has notified the form for exercising option by a Goods Transport Agency intending to revert under reverse charge mechanism to be filed before the commencement of any financial year to be submitted before the jurisdictional GST Authority.

Notification No. 06/2023- Central Tax (Rate)

Date: 26/07/2023

Click Here To Read The Notification