GOODS TRANSPORT VEHICLES IN PARTNERS NAME

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Final
183 Points Posted on 17 December 2022

CLARIFICATION REQUIRED: -

TANKER IS IN THE NAME OF PARTNERS OF THE FIRM TANKER IS USED FOR THE PURPOSE OF BUSINESS TO TRANSPORT TAXABLE GOODS (EDIBLE OILS) WE ARE SHOWING TANKER AS ASSET IN THE FIRM BALANCE SHEET. FREIGHT CHARGES COLLECTED BY ADDING TO SELLING PRICE OF PALMOLIEN OIL. IS THERE ANY POSSIBILITY TO LEVY GST ON FREIGHT CHARGES AS THE VEHICLES IS NOT IN THE NAME OF THE FIRM.  
IS THERE ANY JUDGEMENT RELATED TO MY QUERY 

KINDLY SUGGEST
 

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On 17 December 2022 at 11:53 Report
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Finance/Compliance Consultant
69228 Points Posted on 04 July 2026

Summary: Whether GST applies to your freight charges depends on whether you issue a "consignment note." If you do not, you are likely not a "Goods Transport Agency" (GTA), and your transportation service is exempt; the freight cost is simply part of the taxable value of the oil you are selling. If you do issue a consignment note, you are a GTA and must comply with GST regulations regarding GTA services.

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On 04 July 2026 at 18:53

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