CBIC notifies Amendments in GST Rates applicable to Goods Transport Agencies [Read Notification]
![CBIC notifies Amendments in GST Rates applicable to Goods Transport Agencies [Read Notification]](https://www.taxscan.in/wp-content/uploads/2022/07/CBIC-Amendments-GST-Rates-Goods-Transport-Agencies-Taxscan.jpg "CBIC notifies Amendments in GST Rates applicable to Goods Transport Agencies [Read Notification]")
The Central Board of Indirect Taxes and Customs (CBIC) has notified the amendments in the GST rates applicable to the Good Transport Agencies (GTA) from 18th July, 2022. Goods transport agency is being given option to pay GST at 5 per cent or 12 per cent under forward charge; option to be exercised at the beginning of Financial Year. The GST Council further decided to continue the...
The Central Board of Indirect Taxes and Customs (CBIC) has notified the amendments in the GST rates applicable to the Good Transport Agencies (GTA) from 18th July, 2022.
Goods transport agency is being given option to pay GST at 5 per cent or 12 per cent under forward charge; option to be exercised at the beginning of Financial Year. The GST Council further decided to continue the RCM option.
The notification issued on Wednesday stated that “Provided further that nothing contained in this entry shall apply where, - i. the supplier has taken registration under the CGST Act, 2017 and exercised the option to pay tax on the services of GTA in relation to transport of goods supplied by him under forward charge; and ii. the supplier has issued a tax invoice to the recipient charging Central Tax at the applicable rates and has made a declaration as prescribed in Annexure III on such invoice issued by him.”;
