TRANSPORT OF GOODS BY ROAD

[SUMEDH AYARE]

WE ARE RECEIVING SERVICES FROM GTA. NOW GTA IS UNDER REVERSE CHARGE.

WHAT SHOULD BE THE POINT OF TAXATION  I.E.,  PAYMENT  OR  BILL BOOKING ? 

WHETHER WE CAN TAKE ABATEMENT OF 75% ?

[anil gupta bhikaji]

GTA was under revrse charge earlier also with some exceptions.

POTRrule 3(a) lays down that POTR is date of raising of invoice or bill booking and  invoice must b raised within 30 days of service provided or payment recieved. under noti 26 S.No.7 the abatement of 75% can b claimed. 

AI Summary

Point of Taxation: invoice date governs reverse-charge GTA services; abatement may be claimed under the notification.
Point of Taxation is governed by the Point of Taxation Rules: the date of raising the invoice or bill-booking is the relevant tax point and invoices must be issued within thirty days of service provision or receipt of payment. Where the notification allows, an abatement for GTA services can be claimed subject to the notification's conditions.