Option to revert to reverse charge: GTA must file annual declaration between 1 Jan and 31 Mar or remain opted in. The notification narrows the annual window for a Goods Transport Agency to elect or revert between forward charge and reverse charge to a period beginning 1 January and ending 31 March of the preceding financial year, inserts a proviso deeming an exercised option to continue for ensuing years unless Annexure VI is filed to revert, adds Annexure VI as a prescribed form for GTA declarations to revert to reverse charge, and confirms that an exercised option cannot be changed within one year and remains valid for the relevant financial year.
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.
Option to revert to reverse charge: GTA must file annual declaration between 1 Jan and 31 Mar or remain opted in.
The notification narrows the annual window for a Goods Transport Agency to elect or revert between forward charge and reverse charge to a period beginning 1 January and ending 31 March of the preceding financial year, inserts a proviso deeming an exercised option to continue for ensuing years unless Annexure VI is filed to revert, adds Annexure VI as a prescribed form for GTA declarations to revert to reverse charge, and confirms that an exercised option cannot be changed within one year and remains valid for the relevant financial year.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
