The Goods and Services Tax Network (GSTN) on January 01, 2024, issued an advisory on the functionalities available on the portal for GTA taxpayers
The following Functionalities have been made available on the portal for GTA Taxpayers namely: -
• Filing of Online Declaration in Annexure V and Annexure VI for the existing GTA Taxpayers - the option by GTA to pay GST on the Forward Charge mechanism or the Reverse Charge mechanism respectively on the services supplied by them during a Financial Year shall be exercised by making a declaration in Annexure V or Annexure VI from the 1st January of the current Financial Year till 31st March of the current Financial Year, for the next Financial Year.
•It states that in order to comply with the above the online filing in Annexure V Form and Annexure VI Form is available on the portal for the existing GTA taxpayers for filing a declaration in Annexure V Form or Annexure VI Form for the succeeding FY 2024-25 from January 01, 2024, to March 31, 2024
• It states that the option exercised by GTA to 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 reverse charge mechanism.
• It further states that the GTAs who filed declarations for the FY 2024-25 on the portal for the period from July 27, 2024, till August 22, 2024, have been considered as filed and valid. Those taxpayers are requested that they shall not file a declaration in Annexure V Form for the subsequent FYs if they wish to continue their option to pay GST on the Forward charge mechanism.
