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Taxation Jammu & kashmir Ministry of Finance Jammu and Kashmir Goods and Services Tax Act, 2017

Amendment in the notification of Goods Transport Agencies (GTA) under the reverse charge mechanism

13-Sep-2023 | SO. 472

The Government of Jammu and Kashmir has reiterated a circular issued by CBIC dated 26th July 2023 regarding the amendment in Notification No.11/2017-State Tax (Rate), dated 30th June 2017.

By virtue of the amendment, the option for Goods Transport Agencies (GTA) to itself pay GST on the services supplied by it during a Financial Year shall be exercised by making a declaration in Annexure VI on or after the 1st of January of the preceding Financial Year but not later than 31st March of the preceding Financial Year. Prior to the amendment, the option by GTA to itself pay GST on the services supplied by it during a Financial Year shall be exercised by making a declaration in Annexure V or before the 15th of March of the preceding Financial Year.

Furthermore, the option exercised by GTA to itself pay GST on the services supplied by it during a Financial Year shall be deemed to have been exercised for the next and future financial years unless the GTA files a declaration in Annexure VI to revert under the reverse charge mechanism on or after the 1st of January of the preceding Financial Year but not later than 31st March of the preceding Financial Year.

Provided further, Annexure VI has been inserted: Form for exercising the option by a Goods Transport Agency intending to revert under the reverse charge mechanism, to be filed before the commencement of any financial year and to be submitted before the jurisdictional GST Authority.

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