LatestGoods & Service Tax (GST) 12 July 2026
GTA GST Update
A GTA has for the first time charged GST under forward charge from April 2026, filed GSTR 1 and GSTR 3B, and deposited the entire tax, with recipients receiving the tax credit, this development has significant implications for specific sectors, including those who have not complied with GTA Annexure V, and all related parties will need to assess their tax positions carefully to avoid non-compliance issues and penalties
The recent news involves a GTA charging GST under forward charge from April 2026. Key points of this development include:
- The GTA has filed GSTR 1 and GSTR 3B
- The entire tax has been deposited
- Recipients have received the tax credit
*This development has significant implications for specific sectors*, including those who have not complied with GTA Annexure V. All related parties will need to assess their tax positions carefully to avoid non-compliance issues and penalties.
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