Option to revert to reverse charge mechanism for Goods Transport Agencies clarified with pre year filing and form requirements. Amendments revise the GTA option framework by prescribing a pre financial year filing window to exercise or withdraw the option to revert to the reverse charge mechanism, deeming the option to continue for future years unless a declaration is filed to revert under the prescribed window. Annexure V references are updated to the start of year filing point and a new Annexure VI form is inserted for GTAs to declare reversion to reverse charge, including a one year lock in and validity through the financial year.
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Provisions expressly mentioned in the judgment/order text.
Option to revert to reverse charge mechanism for Goods Transport Agencies clarified with pre year filing and form requirements.
Amendments revise the GTA option framework by prescribing a pre financial year filing window to exercise or withdraw the option to revert to the reverse charge mechanism, deeming the option to continue for future years unless a declaration is filed to revert under the prescribed window. Annexure V references are updated to the start of year filing point and a new Annexure VI form is inserted for GTAs to declare reversion to reverse charge, including a one year lock in and validity through the financial year.
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