GSTN issued advisory on Filing of Declaration In Annexure V by GTA

The Goods and Service Tax Network (“GSTN”) has issued an Advisory dated May 30, 2023, on the filing of declaration in Annexure V by the Goods Transport Agency (“GTA”) opting to pay tax under the forward charge mechanism (“FCM”).

The GTAs, who commence business or cross-registration threshold on or after April 01, 2023, and wish to opt for payment of tax under forward charge mechanism are required to file their declaration in Annexure V for the FY 2023-24 physically before the concerned jurisdictional authority.

The declaration may be filed within the specified time limits, as prescribed in Notification No. 05/2023-Central Tax (Rate), dated. May 09, 2023.

The Advisory can be accessed at - https://www.gst.gov.in/newsandupdates/read/587