Transport & Logistics
Transport businesses have their own rules under both GST and income tax. Goods transport agencies can choose how GST is paid, small truck owners have a presumptive taxation scheme, and payments to transporters have specific TDS conditions.
What we help with
- GST registration and the choice between reverse charge and forward charge for goods transport agencies
- Income tax returns, including the presumptive scheme for goods-carriage owners
- TDS declarations and compliance on transport payments
- Vehicle-wise accounts for fuel, maintenance and loans
Points to watch
- 1The GST payment option for goods transport agencies is a yearly choice and affects customers too.
- 2Small transporters who meet the conditions and give a declaration with PAN can receive payments without TDS.
- 3Vehicle loans, depreciation and fuel records should be kept vehicle by vehicle.
- 4E-way bill details must match the vehicle actually carrying the goods.
General points, not advice for your case. Limits and dates change; we confirm what applies to you.
GST for goods transport agencies
A goods transport agency (GTA) can either have GST paid by the recipient under reverse charge, or charge GST itself under forward charge, with different rates and credit rules. The option is exercised for a financial year and affects your customers’ compliance as well, so it is worth deciding deliberately rather than by default.
Presumptive taxation for truck owners
Owners of a small fleet of goods carriages can declare income under a presumptive scheme based on the number and type of vehicles, instead of keeping detailed books. It can simplify compliance considerably, but it is not available to everyone and not always the best choice.
TDS on transport payments
Payments to transporters usually attract TDS, but small transport operators who meet the conditions and give the payer a declaration with their PAN can be paid without deduction. Both sides should keep the declarations on file.
Vehicle-wise records
- Keep fuel, toll, repair and driver expenses by vehicle.
- Track vehicle loans and insurance renewals in one place.
- Make sure e-way bills carry the correct vehicle number, and update it when goods are transferred between vehicles.
Running a business in transport & logistics?
Call during office hours, or send a WhatsApp message describing what you need.
- No documents needed for the first call
- Hindi or English