Gst in case of gta
WebJun 3, 2024 · How to determine Place of Supply in case of GTA services; What is applicable GST rate on GTA and Exemptions; ... (POS) in case of GTA: Place of supply is one of … http://kb.icai.org/pdfs/PDFFile5b432dd7250f80.92508429.pdf
Gst in case of gta
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WebAug 24, 2024 · Reverse Charge in case of GTA. Normally a service provider is required to pay taxes, but in case a GTA provides the services to the following persons, recipient of services is required to pay GST under reverse charge (notification No. 13/2024- Central Tax (Rate) dated 28th June, 2024) :-Factory registered under the Factories Act,1948 WebDec 7, 2024 · Once a person falls under the definition of GTA as above and GST/RCM is applicable to him he has following options: - i) Do not take GST registration even if the …
WebJun 2, 2024 · Rate of GST on GTA service is 5% or 12% depending on the wish of service provider. GST to be paid be recipient of service under reverse charge. Zirakpur. … WebNov 18, 2024 · 1. 5% GST Under RCM Without an Input Tax Credit (ITC)- In case a GTA opts for this option, then the one who will receive goods and/or services will be required to pay GST of 5% under the RCM which is Reverse Charge Mechanism provision which helped in relieving the transporters from tax-payment. Now that the recipient is paying …
WebAug 24, 2024 · When a GTA, whether registered or unregistered, provides taxable transportation or related services to any of the specified persons, the recipient of the service is liable to pay tax on reverse charge basis. These specified persons are: A person registered under GST. A factory registered under or governed by the Factories Act, 1948.
WebApr 14, 2024 · In following cases, registration under GST shall be mandatory irrespective of threshold exemption – ... Goods Transport Agency [GTA] As per the Notification No. 11/2024 – Central Tax (Rate) dated 28/06/2024, “Goods Transport Agency means any person who provides service in relation to transport of goods by road and issues …
WebMay 13, 2024 · 3. Sir one more thing can transporter opt for regular scheme (i. e., ""can take input of capital goods and pay GST and able to raise tax invoice "") 1. if your party have … michael sehorn clemsonWebApr 14, 2024 · In following cases, registration under GST shall be mandatory irrespective of threshold exemption – ... Goods Transport Agency [GTA] As per the Notification No. … michael sehgal discount codeWebJul 27, 2024 · Conclusion: 1) GTA is liable to pay tax on services provided for transportation of goods on road where the said service is not specified for coverage u/s 9 (3) of CGST Act. 2) GTA could discharge GST liability @ 5% if the conditions attached to the serial no. 9 (iii) under heading 9965 to notification 11/2024 Central Tax Rate, June 28, 2024 is ... michael sehgal and sons newcastleWebOct 15, 2024 · 15 October 2024 Dear All Experts, I have recently asked a query w.r.t. to liability of IGST or CGST+SGST in case of GTA service in the. below case. But till today, … michael sehgal and sons ltdWebApr 14, 2024 · In the case of GST payable by reverse charge, you must also indicate on the GST invoice that the tax is paid via ... 2024 Higher sales in GSTR-1 and lower tax liability in GSTR-3B. Related Blog Posts. Explore GST More on GST. GST on Goods Transport Agency (GTA) Services by Road. Feb 20, 2024. Read More. Explore GST More on GST. … michaels e gift cardsWebSep 4, 2024 · In case GTA opt to pay GSt @ 12% and avail ITC as per Notification No. 20/2024 – Central Tax (Rate), then he supposed to be registered. The GTA opting to pay GST @ 12% under this entry shall, … michael seibel new hampshireWebApr 8, 2024 · Section 50 of the CGST Act, 2024 provides for the payment of interest on the amount of tax that is paid after the due date. The interest is calculated from the due date of payment till the date of actual payment. In case a registered taxpayer has wrongfully availed Input Tax Credit (ITC) that they are not entitled to under the provisions of the ... michael sehgal school uniform