Government gives time till May 31 for Goods Transport Agencies to opt for GST payment The government has extended the deadline to May 31 for Goods Transport Agencies to exercise the option of paying GST on forward charge basis for current fiscal.

Under GST, Goods Transport Agencies have the option to collect and pay GST on forward charge basis. If they do not opt to do so, the liability to pay the tax gets transferred to the recipient of the service, under reverse charge mechanism.

To opt for paying Goods and Services Tax (GST) under forward charge basis at the rate of 12% (with input tax credit) and 5%(without ITC benefits) in a fiscal, a Goods Transport Agency (GTA) has to fill a form (Annexure V) by March 15 of the preceding financial year.