Reverse charge option: GTA deadline window revised for exercising or revoking option to pay GST; new filing form required. The notification revises the GTA election mechanism by replacing the prior single cutoff with a prescribed exercise window in the preceding financial year, adds a deeming proviso that an exercised forward-charge option continues into future years unless a declaration is filed within that window, amends Annexure V to reflect the timing change, and inserts Annexure VI as the formal filing to revert to reverse charge, specifying that the option is binding for a year and remains valid for the financial year.
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Provisions expressly mentioned in the judgment/order text.
Reverse charge option: GTA deadline window revised for exercising or revoking option to pay GST; new filing form required.
The notification revises the GTA election mechanism by replacing the prior single cutoff with a prescribed exercise window in the preceding financial year, adds a deeming proviso that an exercised forward-charge option continues into future years unless a declaration is filed within that window, amends Annexure V to reflect the timing change, and inserts Annexure VI as the formal filing to revert to reverse charge, specifying that the option is binding for a year and remains valid for the financial year.
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