GST Council Meeting Recommendations: Changes related to Declaration required for GTA paying GST:

GST Council Meeting Recommendations: Changes related to Declaration required for GTA paying GST In the 50th GST Council Meeting that was held on 11th July in New Delhi under the chairmanship of the Finance Minister, major decisions were taken to simplify tax system. One of the decisions that was taken is that there are changes made in the declaration requirement of GTA. The following recommendations made to clarify: It has been decided that Goods Transport Agency (GTAs) will not be required to file a declaration for paying GST under forward charge every year. If they exercised this option for a certain financial year, they will be presumed to have exercised it for the next and subsequent financial years until they make a statement stating that they intend to revert to the reverse charge mechanism (RCM). Furthermore, it has also been decided that the last date of exercising the option by GTAs to pay GST under forward charge shall be 31st March of the preceding Financial Year instead of 15th March. 1st January of the preceding Financial Year shall be the start date for the exercise of the option.