Quick Summary
The GTAs, who commence business or cross registration threshold on or after 1st April, 2023, and wish to opt for payment of tax under forward charge mechanism are required to file their declaration in Annexure V for the FY 2023-24 physically before the concerned jurisdictional authority. The declaration may be filed within the specified time limits, as prescribed in theNotification. No. 05/2023-Central Tax (Rate), dated. 09.05.2023. Thanks, GSTN
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FAQ :
GTAs who commenced business or crossed the registration threshold on or after 1st April 2023 and wish to opt for paying tax under the forward charge mechanism.
Annexure V is a declaration form for GTAs opting to pay GST under the forward charge mechanism.
The declaration in Annexure V must be filed physically before the concerned jurisdictional authority.
The relevant notification is No. 05/2023-Central Tax (Rate), dated 09.05.2023.
The declaration in Annexure V is for the financial year 2023-24.
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