Option to pay GST by Goods Transport Agencies now permitted for new registrants and during initial financial year. Amendment adds provisos setting that the option for Financial Year 2023-2024 must be exercised by 31st May, 2023, and that a Goods Transport Agency which starts a new business or crosses the registration threshold during a financial year may opt to pay GST on its services for that year by declaring in Annexure V within forty-five days of applying for GST registration or within one month of obtaining registration, whichever is later.
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Provisions expressly mentioned in the judgment/order text.
Option to pay GST by Goods Transport Agencies now permitted for new registrants and during initial financial year.
Amendment adds provisos setting that the option for Financial Year 2023-2024 must be exercised by 31st May, 2023, and that a Goods Transport Agency which starts a new business or crosses the registration threshold during a financial year may opt to pay GST on its services for that year by declaring in Annexure V within forty-five days of applying for GST registration or within one month of obtaining registration, whichever is later.
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