Latest Updates on GTA services | Rajput Jain & Associates

Guidance on Taxability of GST on GTA Services

Guidance on Taxability of GST on Goods Transport Agency (GTA) Services Goods Transport Agency (GTA): A Goods Transport Agency is a backbone of India’s logistics ecosystem. Under GST, Goods Transport Agency services involve unique tax treatment, frequent RCM vs FCM confusion, and sector-specific exemptions. Proper understanding is essential to avoid tax disputes, interest, and INPUT …

GST Return

GST Taxability of Transportation Services

Taxability of transportation services under GST Rate Condition Nature of service 5% No ITC on goods and services Transportation of goods by the road where consignment note is issued (i.e. GTA services) (RCM) 5% No ITC on goods. ITC can be availed only on vessels, ships, etc. Transportation of goods by vessel 5% ITC on …

Corporate and Professional Updates

CORPORATE TAX UPDATE FOR THE MONTH OF OCTOBER SECOND WEEK

Corporate tax Update for the Month Of October Second week Company Law: Query: In case the appointment of an auditor is not ratified by the shareholders at annual general meeting as required under proviso to Section 139(1), what recourse does the company have? Answer: Explanation to Rule 3(7) of the Companies (Audit and Auditors) Rules, 2014 provides …