News
13
Jul
2022
Please note, Now GST is applicable on fright from ₹1. No Exceptions.
GST rates for Goods Transport Agency
- GTA can now opt to pay GST @ 5% forward charge basis.
- No ITC shall be available when opting for 5% FCM • Prescribed declaration published to be used to switch to 5% FCM by 15th March before the next financial year.
- For FY 2022-23, GTA can switch by 16th August '22.
- Other GTA slabs such as 5% RCM and 12% FCM remain the same
- Providing trucks on hire to GTA is still exempted.
GST rates for providing trucks on rental
- Trucks provided on a rental basis were coming under 18% GST.
- It is now reduced to 12% in those cases where fuel is included in the rental cost.
- This applies to fixed rental not trip-based or GTA service.
- This does not apply to providing trucks to GTA.
GST rates for Goods Transport Agency
- GST on GTA service was exempt on transportation of goods in the following cases:
- Where consideration charged for the transportation of goods on a single consignment transported in a single carriage was below Rs 1500.
- Where consideration charged for transportation of all such goods for a single consignee does not exceed Rs 750.
The above cases are now removed wef 18th July 2022.