CBEC answers questions for Transport & Logistic sector; Clarifies road transport, air journeys taxability

CBEC releases FAQs for transport & logistics sector, says that while transportation of goods by road is exempt vide Notification No. 12/2017-Central Tax (Rate), person receiving commission from truck owners towards fixing of hire with GTA shall be liable to registration if the aggregate amount thereof exceeds Rs. 20 lakhs in an FY; A transporter is required to maintain records of consigner, consignee, goods transported, delivered and those stored in transit in terms of Se...