GST IMPACT ON TRANSPORT OF GOODS AND PASSENGERS

New GST law has changed whole procedural compliances in term of levy, assessment and collection of tax. Concept of one nation one tax have been introduced through central goods and services act, state goods and services act, integrated goods and service etc and union territory goods and services tax act. Many sectors have been effected in term of increase or decrease in price. Goods Transport agency (GTA) has hugged contribution in Indian economy. GTA transports goods intra state as well as inter-state supply. Under GST Law GTA means a person who provides services for the transportation of goods by road and issue consignment note. Additionally, the absence of consignment note, for any goods implies that the transporter is responsible until the goods have safely delivered to the consignee. Rate of GTA vary from 12 percent to 18 percent and also not available input credit in case of reverse charge mechanism.