Goods Transport Agency option to pay GST, subject to input tax credit restrictions and a mandatory annual declaration requirement. The notification amends the GST rate schedule to reclassify and adjust rates for passenger and goods transport services, inserts ropeway transport entries with reduced tax and denial of input tax credit on goods used, and adds a mechanism for Goods Transport Agencies to opt to pay tax under forward charge by filing an annual declaration (Annexure V), with the consequence that electing GTAs cannot claim input tax credit on inputs used in supplying the service.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Goods Transport Agency option to pay GST, subject to input tax credit restrictions and a mandatory annual declaration requirement.
The notification amends the GST rate schedule to reclassify and adjust rates for passenger and goods transport services, inserts ropeway transport entries with reduced tax and denial of input tax credit on goods used, and adds a mechanism for Goods Transport Agencies to opt to pay tax under forward charge by filing an annual declaration (Annexure V), with the consequence that electing GTAs cannot claim input tax credit on inputs used in supplying the service.
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