Classification of Limited Liability Partnership as partnership firm under GST alters tax treatment for goods transport agencies and LLPs. The notification amends the State GST rate schedule by (i) qualifying the Table entry for goods transport agency to apply only to GTAs who have not paid State tax at the specified rate, and (ii) inserting an Explanation clause deeming a Limited Liability Partnership formed under the LLP Act, 2008 to be a partnership firm for purposes of the notification.
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Classification of Limited Liability Partnership as partnership firm under GST alters tax treatment for goods transport agencies and LLPs.
The notification amends the State GST rate schedule by (i) qualifying the Table entry for goods transport agency to apply only to GTAs who have not paid State tax at the specified rate, and (ii) inserting an Explanation clause deeming a Limited Liability Partnership formed under the LLP Act, 2008 to be a partnership firm for purposes of the notification.
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