What is the Full Form of GTA in GST?
The GTA Full Form in GST is Goods Transport Agency. The Goods and Service Tax (GST) regime is an attempt to streamline the nation’s system of indirect tax. The state movement of goods is a component of it. Goods Transport Agency (GTA): An agency playing a major role in facilitating the seamless movement of goods and ensuring compliances as per the regulations of GST. Goods Transport Agency (GTA): means any person who provides service in relation to the transport of goods by road. This also includes transporters, logistic companies, courier companies, packers and movers, or anybody else who is involved in moving goods from one place to the other.
What are the Functions of a Goods Transport Agency (GTA)?
The principal activity of a GTA is to provide services of transportation of goods. The procedure to be followed for registration as a GTA is to be almost the same as the procedure for registration for GST. A valid PAN card, an Aadhaar card, and address proof are the required documents.
Importance of Goods Transport Agency (GTA) in GST
The GTAs enable the collection of GST in a very smooth manner for the movement of goods. They assist the government for issuance of e-way bills, collection of TCS in prescribed cases, and maintenance of the record. This contributes to transparency in the supply chain and helps generate revenue for the government. So, Goods Transport Agencies (GTAs) shall be of much importance under GST because they facilitate the movement of goods and compliance with the regulations and, in general, the compliance in a country as big and diversified as India.