Is GST registration compulsory for transporters?
Under GTA, a transporter must obtain a GST registration based on their aggregate turnover exceeding INR 20 lakhs or INR 10 lakhs for a unique category in a financial year. GTA has to pay 12\% GST on all the GTA services for the financial year provided by them.
Is GST applicable on transportation business?
11, (i) Services of goods transport agency (GTA) in relation to transportation of goods (including used household goods for personal use) (Heading 9965 &9967 respectively) attracts GST @2.5\% or 6\% CGST. Identical rate would be applicable for SGST also, taking the effective rate to 5\% or 12\%.
Is GST registration mandatory for warehouse?
The new taxation system, GST, requires GST registration for transporters, godown and warehouse. Goods and Services Tax (GST) shall unify India into one of the largest markets for goods and services across the world.
Who is liable to pay GST on freight?
Who can Pay GST on Freight?
| 1. | Factory registered under the Factories Act, 1948 |
|---|---|
| 2. | A person registered under GST |
| 3. | A body corporate established under relevant law |
| 4. | Co-operative society registered under relevant law |
| 5. | Partnership firm as well as association of persons |
When goods are required to be moved by one place to another transport by is generated by GST network in?
E-way bill is an electronic waybill generated on the GST portal for the movement of goods. Any supplier/agent is transporting goods where the consignment value greater than Rs.
What is the GST rate for logistics?
What is the rate of GST on GTA?
| Service by a GTA | GST rate |
|---|---|
| Carrying- goods, where consideration charged for transportation of all such goods for a single consignee does not exceed Rs. 750 | 0\% |
| Any other goods | 5\% No ITC OR 12\% with ITC |
| Used household goods for personal use | 0\% ** |
Is GST applicable on warehouse charges?
However, such renting of warehouses by agencies engaged in providing storage and warehousing services is liable to GST under a reverse charge at the rate of 18 per cent. The GST paid thus is not eligible for input tax credit (ITC), as the corresponding outward supply of warehousing service is exempted from GST.
Is GST registration mandatory for RCM?
Registration: A person who is required to pay tax under reverse charge has to compulsorily register under GST and the threshold limit of Rs. 20 lakh (Rs. 10 lakh for special category states except J & K) is not applicable to them.