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Avail of option for payment of tax under the forward charge mechanism by a Goods Transport Agency (GTA)
1. Goods Transport Operators have been given the option to pay taxes at 12% / 5% under FCM.
2. The option can be exercised by filing Annexure V on the GST portal
3. Path – “Services>User Services>Opting Forward Charge Payment by GTA”
4. The option will be made available every year before the commencement of the FY
5. The cut-off date is 15th March of the preceding FY. Eg: For FY 2023-24 cut-off date is 15 March 2023.