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 the Notification. No. 05/2023-Central Tax (Rate), dated. 09.05.2023.

Forward charge election requires GTAs to file Annexure V declaration physically within prescribed time to jurisdictional authority. GTAs opting to pay tax under the forward charge mechanism must file a physical declaration in Annexure V for the relevant financial year before the concerned jurisdictional authority, within the specified filing time limits prescribed by the controlling notification.