Goods Transport Agency under GST | What is GTA | Taxability | Exemptions | RCM for GTA | POS
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- Опубліковано 13 жов 2024
- To further understand with the help of illustrations. visit our page: cleartax.in/s/...
Watch this video to understand the taxability of Goods Transport Agency under GST.
It covers exemptions available for GTA, tax rates notified the applicability of reverse charge, registration of GTA, etc.
#goodstransportagency #gst
For more information: cleartax.in/s/goods-transport-agency-under-gst
when a GST registered GTA1 provides service to another GTA2, but GTA1 doesn't include their consignment note/LR. Is it considered as hire of vehicle to GTA and exemption of GST applicable or GTA1 has to raise an invoice with either RCM or forward charges as per GTA1's selected slab?
Your channel really deserved the name clear tax
Respected Maam I search a lot but not found the 21A entry removed by any notification on 31.12.2018 so GTA is not required to get GST Registration as per My view. Correct me if wrong .
Hi, if the GTA is paying tax on forward charge basis, then no compulsory registration is required unless the threshold turnover exceeds the limit notified by GST law.
Team Clear
Hi madam need clarification on freight charges. My transport person invoiced 5% GST on freight charges can we take ITC ???
@Balaji N, thank you for asking this question. Yes, you can avail ITC in this case. Hope this clarifies your query.
Team Clear
Very nicely explained. It helps a lot.
Though one query.
Can you give example for the expected RCM of consignment is equal or less than Rs. 1500 and for Rs. 750. Please clear that point. Thank you
Hi Himanshu, Apologies for the delay!
Here is an example:
Ajay hired a GTA to transport his goods. The consideration charged was Rs. 1,200. Will Ajay pay GST?
Ans: Ajay will not pay GST under RCM as the consideration for transportation of goods on a consignment transported in a single carriage is less than Rs. 1,500.
Suppose, Ajay hired again a GTA to transport goods. The GTA was asked to come 2 different days as Ajay would receive the goods in batches. The entire consideration was Rs. 600. Will Ajay pay GST?
Ans: Ajay will not pay GST because the consideration charged for transportation of all such goods for a single consignee does not exceed Rs. 750.
Mam please explain on place of supply of import of goods and how transport services provider will charge gst in different cases to registered person using his service in relation to transport of goods what they will charge IGST Or CGST SGST with different example
Hello Meenal,
Thank you for bringing this up. Our team will look into this and revert at the earliest
Nice explanation madam, Good keep it up and Do more videos on Important topics.
Madam please tell me what the gst rate of tax if a gst registered person giving services to gta by his own and by hiring some vehicles from others
Hello Rakesh,
Please note that if you are hiring out vehicle to a GTA, then 0% is GST rate.
@@CleartaxIndia Dear Sir/Madam,
Thanks for the reply but I had doubt that we had our own vehicles 3 and we are hiring some other 4 vehicles from other owners and by add all the vehicles we are giving it to GTA on hire please clarify me in this case what will be the gst rate
Ma'am, if GTA chooses @5% and notified person will pay GST under RCM also. Doesn't this give a rise to double taxation??
@Priyansh Singh, please note that if GTA chooses 5%, then RCM would apply only if the recipient is a notified recipient under the Act - Like a factory, company, firm, co-operative society, and a few others. If not, then it would have been paid under forward charge by the GTA. The only condition is that the GTA cannot claim ITC, but the recipient can claim such taxes paid as ITC. Hope this clarifies your query.
Team Clear
@@CleartaxIndia Thank you so much Ma'am for your valuable reply.🙏
Dear sir,
Can a GTA choose both options RCM 5% and FCM 12% with in same tax period?
Hello,
The GTA can choose either to pay tax @12% under normal charge (with ITC) or ask the recipient of services to pay tax @5% under RCM. However, if the recipient of services is an unregistered individual, the GTA services will be exempted from GST. Please note that GTA is not liable to take registration and provided services to a specified recipient, then the specified recipient has to pay GST under RCM @5%.
Neatly explained... good work... keep it up
IF WHILE TAKING REGISTRATION UNDER GST I HAVE NOT TAKEN REGISTRATION AS RCM AND MY BUSINESS IS TO TRANSPORT HOUSEHOLD GOODS WHETHER GST IS TO BE CHARGED BY ME ON INVOICE?. I DO NOT OWN MY OWN VEHICLE IN F.Y 2019-20. WHAT OPTIONS ARE AVAILABLE TO BE UNDER GST AS ON TODAY. AND IN F.Y 2020-21 I HAVE PURCHASED A VEHICLE SO WHETHER I SHOULD AVAIL FOR 12% ITC OR CONTINUE WITH RCM ONLY? WHAT IS THE BEST OPTION
Thanks this was helpful 👍