Home Forum Goods and Services Tax - GST Month 9 2021 2021 (9) This
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Change of Tax rate during Mid of the year - Goods and Services Tax - GSTExtract Dear Expert, Please share your view on following : The tax payer is providing rental services of transport vehicles with operators to the State Govt. As per notification no. 08/2017 dated 28th June 2017 , the taxpayer can pay Tax @5% without availing ITC or pay @12% with ITC. The business was started during FY 2019-20 and the taxpayer has opted 2nd option i.e. 12% with ITC. Now taxpayer wants to shift tax rates option from 12% -with ITC to 5%-without ITC from October 2021 onwards. In this regards, please share your view on following : Whether it can be done in mid of the year ? please also share relevant notification, if any. If option one is not doable, can it be done in beginning of the next financial year i.e. April 2022? please supportings, if any Please also suggest procedure if any for informing, change in option to GST deptt, if any required. Thanks , Regards, Pankaj Singh
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