GST
TRT-2025-
Date:-26-07-23
In:-
Issue Favourable to Tax Payer ?:-
Notification No. 06/2023- Central Tax (Rate) dated 26th July 2023
Key Pointers –
- An explanation is inserted in serial number 3, in column (3), in item (ie), namely;
“Explanation. –This item refers to sub-items of the item (iv), (v) and (vi), against serial number 3 of the Table as they existed in the notification prior to their omission vide notification No.03/2022-Central Tax (Rate) dated the 13th July,2022.”;
- The words, figures and letters “on or before the 15th March of the preceding Financial Year” in serial number 9, in column (3), in item (iii), in sub-item (b), in the entries under column (5), in condition (2) has been substituted as “on or after the 1st January of the preceding Financial Year but not later than 31st March of the preceding Financial Year”.
- After the fourth proviso, it has inserted the following: “Provided also that the option exercised by GTA to itself 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 on or after the 1st January of the preceding Financial Year but not later than31st March of the preceding Financial Year.”;
- Explanation, in clause(i), sub-clause(h) in serial number 24, in column (3), in item (i), has omitted.
- The words “end of the financial year for which it is exercised”, in para 2 of Annexure V has substituted with “the start of the financial year for which I exercise option to revert under reverse charge mechanism by filing Annexure VI on or before the due date”.
- In note to the Annexure, for the words, “The last date for exercising the above option for any financial year is the 15th March of the preceding financial year”, has substituted with the words “The above option for any Financial Year shall be exercised on or after 1st January of the preceding Financial Year but not later than 31st March of the preceding Financial Year”.
- Annexure VI, Form for exercising option by a Goods Transport Agency intending to revert under reverse charge mechanism to be filed before the commencement of any financial year to be submitted before the jurisdictional GST Authority, has inserted.
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