Quick Summary
Advisory on opting for payment of tax under the forward charge mechanism by a Goods Transport Agency (GTA) In compliance of Notification No. 03/2022-Central Tax (Rate), dated 13th July, 2022, an option is being provided on the portal to all the existing taxpayers providing Goods Transport Agencies Services, desirous of opting to pay tax under the forward charge mechanism to exercise their option. They can navigate Services User Services Opting Forward Charge Payment by GTA (Annexure V), aft
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FAQ :
The advisory informs Goods Transport Agencies (GTAs) about the option to pay tax under the forward charge mechanism and how to exercise it on the GSTN portal.
Existing taxpayers providing Goods Transport Agencies (GTA) services can opt for this payment method.
GTAs can opt by logging into the GSTN portal, navigating to Services > User Services > Opting Forward Charge Payment by GTA (Annexure V).
No, the option in Annexure V FORM must be submitted on the portal by GTAs every year before the commencement of the Financial Year.
The cut-off date for filing the Annexure V FORM is 15th March of the preceding financial year. For FY 2023-24, the portal is available until 15th March 2023.
No, the option once filed cannot be withdrawn during the financial year.
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