Reverse charge election timing for Goods Transport Agencies redefined; prescribed declaration now required within the preceding financial year window. Amendments redefine the procedural timing and mechanism for a Goods Transport Agency to elect forward charge or revert to the reverse charge mechanism, introduce a deeming rule that an election to pay under forward charge continues unless a prescribed declaration is filed within the designated preceding financial year window, and prescribe a new Annexure VI form for GTAs to declare reversion to reverse charge prior to the start of a financial year.
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Reverse charge election timing for Goods Transport Agencies redefined; prescribed declaration now required within the preceding financial year window.
Amendments redefine the procedural timing and mechanism for a Goods Transport Agency to elect forward charge or revert to the reverse charge mechanism, introduce a deeming rule that an election to pay under forward charge continues unless a prescribed declaration is filed within the designated preceding financial year window, and prescribe a new Annexure VI form for GTAs to declare reversion to reverse charge prior to the start of a financial year.
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