GST UPDATES ?

GTA Services
1. GST @5% on GTA Service will be Paid by Service Receiver under RCM.
2. Service Receiver can take full credit of GST so Paid on GTA.
3. As per Notification No-5/2017, persons who are only engaged in making supplies of taxable goods or services or both, the total tax on which is liable to be paid on reverse charge basis by the recipient of such goods or services or both under sub-section (3) of section 9 of the said Act as the category of *persons exempted from obtaining registration* under the aforesaid Act. Thus, a *GTA does not have to register under GST if he is exclusively transporting goods* even if the turnover exceeds 20 lakhs as the total tax is required to be paid by the recipient under reverse charge basis.
4. *GST will not apply on transport of following goods by a GTA*- Agricultural produce; milk, salt and food grain including flour, pulses and rice; organic manure; newspaper or magazines registered with the Registrar of Newspapers; relief materials meant for victims of natural or man-made disasters; defence or military equipment; goods, where consideration charged for the transportation of goods on a consignment transported in a single carriage is less than Rs. 1,500; goods, where consideration charged for transportation of all such goods for a single consignee does not exceed Rs. 750.
5. GTA can opt for 12% GST with ITC or 5% GST with no ITC. However, the GTA has to give an option at the beginning of financial year