Logistics and transport companies operate under a unique GST framework. Goods Transport Agencies have the option to pay GST under forward charge or reverse charge. E-way bill compliance is critical for every movement. ITC optimisation requires careful management.
This article explains the GST compliance for logistics and transport companies.
GTA and RCM
- GTA can opt for forward charge at 12% or RCM at 5%.
- The option must be exercised at the beginning of the financial year.
- Declaration to be filed.
E-Way Bill Compliance
- Generation for movements exceeding ₹50,000.
- Part A and Part B requirements.
- Extension and cancellation.
ITC Management
- ITC on fuel, vehicles, and spare parts.
- Blocked credits under Section 17(5).
- Documentation.
Export of Services
- LUT filing for zero-rated exports.
- FIRC/FIRMS.
Conclusion
Logistics and transport companies need GST compliance services that address GTA options, e-way bill compliance, and ITC. A CA firm ensures compliance and optimises tax position.
At Anuj Desai & Associates, we provide GST compliance services for logistics and transport companies. Our team handles GTA options, e-way bill compliance, and ITC.
For a confidential consultation, contact us at office@anujdesaiassociates.com or call 9619456656. Visit our website at https://anujdesaiassociates.com or connect with our founder on LinkedIn at linkedin.com/in/ca-anuj-desai-122547230.