GST Notification No.05/2023 – Central Tax (Rate) || Extension of Last Date for Exercise of Option by GTA to pay GST under Forward Charge

Seeks to Amend Notification No.11/2017 – Central Tax (Rate) dated June 28th 2017 so as to extend the last date for the Exercise of the Option by GTA (Goods Transport Agency) to pay GST under Forward Charge.

Exercise of Option by GTA (Goods Transport Agency) to pay GST under Forward Charge for the Financial Year 2023-24 shall be exercised on or before May 31st 2023. Earlier, this option was required to be exercised before March 15th 2023.

Further, GTA who Commences New Business or Crosses the threshold for Registration during any Financial Year may Exercise the option to itself pay GST on the Services supplied by it during that Financial Year by making a declaration in Annexure V before the Expiry of 45 Days from the Date of Applying for GST Registration or 1 month from the Date of Obtaining Registration whichever is later.

Similar Notifications have been passed under the Integrated Goods and Services Tax Act, 2017 and the Union Territory Goods and Services Tax Act, 2017

The CGST (Rate) Notification can be accessed at Click Here

The IGST (Rate) Notification can be accessed at Click Here

The UTGST (Rate) Notification can be accessed at Click Here

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