GST rate amendments: GTA may opt to pay tax under forward charge via Annexure V, altering rates and input credit rules. Amendment revises the Schedule to Notification No. 11/2017 by substituting, omitting and inserting entries that reclassify transport, renting and health care related services with specified GST rates and corresponding restrictions on input tax credit. A regime for Goods Transport Agencies is introduced under which a GTA may exercise an option via Annexure V to pay GST on its services under forward charge for a financial year; where the GTA opts to pay at the lower rate it cannot claim input tax credit for goods and services used in supplying those services. New definitions for clinical establishment, health care services, print media and goods transport agency are inserted and an Annexure V form and deadlines are prescribed.
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Provisions expressly mentioned in the judgment/order text.
GST rate amendments: GTA may opt to pay tax under forward charge via Annexure V, altering rates and input credit rules.
Amendment revises the Schedule to Notification No. 11/2017 by substituting, omitting and inserting entries that reclassify transport, renting and health care related services with specified GST rates and corresponding restrictions on input tax credit. A regime for Goods Transport Agencies is introduced under which a GTA may exercise an option via Annexure V to pay GST on its services under forward charge for a financial year; where the GTA opts to pay at the lower rate it cannot claim input tax credit for goods and services used in supplying those services. New definitions for clinical establishment, health care services, print media and goods transport agency are inserted and an Annexure V form and deadlines are prescribed.
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