CA Pratibha Goyal | May 9, 2023 |
Good News for GTA: Time limit to exercise option of Forward charge relaxed till 31.05.2023
The good news for GTA (Goods Transport Agency) is that the time limit for exercising Forward Charge in GST has been extended till 31st May 2023.
Earlier this date was 15th March 2023. Many GTAs were unable to exercise this option before the due date and this was the request that they should be given another chance.
The Relevant Text of Notification reads as follows:
Provided also that the option for the Financial Year 2023-2024 shall be exercised on or before the 31st May, 2023:
Provided also that a GTA who commences new business or crosses threshold for registration during any Financial Year, may exercise the option to itself pay GST on the services supplied by it during that Financial Year by making a declaration in Annexure V before the expiry of forty-five days from the date of applying for GST registration or one month from the date of obtaining registration whichever is later.
Click on the below link to download the notification.
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