TMI BlogCan GTA service providers use both 5% and 12% GST under forward charge?X X X X Extracts X X X X X X X X Extracts X X X X ..... Can GTA service providers use both 5% and 12% GST under forward charge? X X X X Extracts X X X X X X X X Extracts X X X X ..... 0283;𝗲𝗿𝗲'𝘀 𝘁𝗵𝗲 𝗱𝗶𝗹𝗲𝗺𝗺𝗮: A GTA providing services to 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀 𝘀𝘂𝗽𝗽𝗹𝘆𝗶𝗻𝗴 𝗲𝘅𝗲𝗺𝗽𝘁 𝗴𝗼𝗼𝗱𝘀 (like fresh fish, livestock, fruits, and vegetables) alongside 𝗼𝘁𝗵𝗲𝗿 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀 𝘀𝘂𝗽𝗽𝗹𝘆𝗶𝗻𝗴 𝘁𝗮𝘅𝗮𝗯 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 120313;𝗲 𝗴𝗼𝗼𝗱𝘀 faces a tough choice: 💰𝟱% 𝗚𝗦𝗧 (𝘄𝗶𝘁𝗵𝗼𝘂𝘁 𝗜𝗧𝗖) 𝘂𝗻𝗱𝗲𝗿 𝗳𝗼𝗿𝘄𝗮𝗿𝗱 𝗰𝗵𝗮𝗿𝗴𝗲 ✅𝗥𝗲𝗱𝘂𝗰𝗲𝘀 𝗰𝗼𝘀𝘁𝘀 for customers engaged in exempt supplies, as they 𝗰𝗮𝗻'𝘁 𝗰𝗹𝗮𝗶𝗺 𝗜𝗧𝗖 (e.g., Blinkit, Licious, Country Delight). ❌ 𝗡𝗼 x ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 284;𝗧𝗖 means 𝗵𝗶𝗴𝗵𝗲𝗿 𝗰𝗼𝘀𝘁𝘀 for the GTA. 📉 𝟭𝟮% 𝗚𝗦𝗧 (𝘄𝗶𝘁𝗵 𝗜𝗧𝗖) 𝘂𝗻𝗱𝗲𝗿 𝗳𝗼𝗿𝘄𝗮𝗿𝗱 𝗰𝗵𝗮𝗿𝗴𝗲 ✅ Allows the GTA and eligible customers ( if engaged in the supply of taxable supplies) to 𝗰𝗹𝗮𝗶𝗺 𝗶𝗻𝗽𝘂𝘁 𝗰𝗿𝗲𝗱𝗶𝘁-𝗿𝗲𝗱𝘂𝗰𝗶𝗻𝗴 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ; 𝘁𝗵𝗲 𝗼𝘃𝗲𝗿𝗮𝗹𝗹 𝘁𝗮𝘅 𝗯𝘂𝗿𝗱𝗲𝗻. 𝗖𝗮𝗻 𝗮 𝗚𝗧𝗔 𝗼𝗽𝘁 𝗳𝗼𝗿 𝗯𝗼𝘁𝗵 𝟱% 𝗮𝗻𝗱 𝟭𝟮% 𝗿𝗮𝘁𝗲𝘀 𝘂𝗻𝗱𝗲𝗿 𝗳𝗼𝗿𝘄𝗮𝗿𝗱 𝗰𝗵𝗮𝗿𝗴𝗲 𝘄𝗶𝘁𝗵𝗶𝗻 𝘁𝗵𝗲 𝘀𝗮𝗺𝗲 𝗳𝗶 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0315;𝗮𝗻𝗰𝗶𝗮𝗹 𝘆𝗲𝗮𝗿? ✅ 𝐘𝐞𝐬, 𝐭𝐡𝐞𝐲 𝐜𝐚𝐧! 🎉 While this is 𝗻𝗼𝘁 𝗲𝘅𝗽𝗹𝗶𝗰𝗶𝘁𝗹𝘆 𝗺𝗲𝗻𝘁𝗶𝗼𝗻𝗲𝗱 in 𝗖𝗚𝗦𝗧 𝗥𝗮𝘁𝗲 𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝟭𝟭/𝟮𝟬𝟭𝟳, it is 𝗰𝗹𝗲𝗮𝗿𝗹𝘆 𝘀 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 𝘂𝗽𝗽𝗼𝗿𝘁𝗲𝗱 by the 𝗺𝗶𝗻𝘂𝘁𝗲𝘀 𝗼𝗳 𝘁𝗵𝗲 𝟰𝟳𝘁𝗵 𝗚𝗦𝗧 𝗖𝗼𝘂𝗻𝗰𝗶𝗹 𝗺𝗲𝗲𝘁𝗶𝗻𝗴, where the decision to allow 𝗯𝗼𝘁𝗵 𝟱% 𝗮𝗻𝗱 𝟭𝟮% 𝗚𝗦𝗧 𝗙𝗼𝗿𝘄𝗮𝗿𝗱 𝗖𝗵𝗮𝗿𝗴𝗲 𝗠𝗲𝗰𝗵𝗮𝗻𝗶𝘀𝗺 (𝗙 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 120278;𝗠) was taken. 🚀 𝗜𝗳 𝗮 𝗚𝗧𝗔 𝗼𝗽𝘁𝘀 𝗳𝗼𝗿 𝗙𝗖𝗠, 𝘁𝗵𝗲𝘆 𝗰𝗮𝗻: 🔹𝗖𝗵𝗮𝗿𝗴𝗲 𝟭𝟮% (𝘄𝗶𝘁𝗵 𝗜𝗧𝗖) on some consignments. 🔹𝗖𝗵𝗮𝗿𝗴𝗲 𝟱% (𝘄𝗶𝘁𝗵𝗼𝘂𝘁 𝗜𝗧𝗖) on others. 📌 𝗖𝗼𝗻𝗱𝗶𝘁𝗶𝗼𝗻? All services must be 𝘁𝗮x ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 325;𝗲𝗱 𝘂𝗻𝗱𝗲𝗿 𝗳𝗼𝗿𝘄𝗮𝗿𝗱 𝗰𝗵𝗮𝗿𝗴𝗲 throughout the financial year. 📊𝗪𝗵𝗮𝘁 𝘀𝗵𝗼𝘂𝗹𝗱 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀 𝗱𝗼? ✅𝗘𝘃𝗮𝗹𝘂𝗮𝘁𝗲 𝗶𝗻𝗽𝘂𝘁 𝗰𝗼𝘀𝘁𝘀 carefully. ✅𝗢𝗽𝘁 𝗳𝗼𝗿 𝟭𝟮% 𝗶𝗳 𝗜𝗧𝗖 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 20303;𝗲𝗻𝗲𝗳𝗶𝘁𝘀 outweigh the incremental business gained by offering 𝟱% 𝗚𝗦𝗧. ✅𝗗𝗲𝗰𝗹𝗮𝗿𝗲 𝘆𝗼𝘂𝗿 𝗰𝗵𝗼𝗶𝗰𝗲 𝗮𝘁 𝘁𝗵𝗲 𝘀𝘁𝗮𝗿𝘁 𝗼𝗳 𝘁𝗵𝗲 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝘆𝗲𝗮𝗿 𝘁𝗼 𝗲𝗻𝘀𝘂𝗿𝗲 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . ⚡𝗙𝗶𝗻𝗮𝗹 𝗧𝗵𝗼𝘂𝗴𝗵𝘁𝘀 GTA service providers now have the flexibility to 𝘀𝘄𝗶𝘁𝗰𝗵 𝗯𝗲𝘁𝘄𝗲𝗲𝗻 𝟱% (𝘄𝗶𝘁𝗵𝗼𝘂𝘁 𝗜𝗧𝗖) 𝗮𝗻𝗱 𝟭𝟮% (𝘄𝗶𝘁𝗵 𝗜𝗧𝗖) on different consignments-𝗼𝗳𝗳𝗲𝗿𝗶𝗻𝗴 𝘀𝗺𝗮𝗿𝘁𝗲𝗿 𝘁𝗮𝘅 𝘀𝘁𝗿𝗮 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0321;𝗲𝗴𝗶𝗲𝘀 𝘄𝗵𝗶𝗹𝗲 𝗺𝗮𝗻𝗮𝗴𝗶𝗻𝗴 𝗰𝗼𝘀𝘁𝘀.
💬 𝗜𝘀 𝘆𝗼𝘂𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗹𝗲𝘃𝗲𝗿𝗮𝗴𝗶𝗻𝗴 𝘁𝗵𝗲 𝗿𝗶𝗴𝗵𝘁 𝗚𝗦𝗧 𝗿𝗮𝘁𝗲 𝗳𝗼𝗿 𝗚𝗧𝗔 𝘀𝗲𝗿𝘃𝗶𝗰𝗲𝘀?
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