Compliance KPIs for Goods Transport Agencies

A Goods Transport Agency, defined in Notification 11/2017-CT(R), is anyone who transports goods by road and issues a consignment note. The consignment note is what separates a GTA from a casual truck-owner. Once you are a GTA, you choose every year between 5% RCM (no ITC, paid by the recipient), 5% FCM (no ITC, paid by you), or 12% FCM (with ITC, paid by you). The choice is made by 31 March in Annexure V for the upcoming FY (Notification 03/2022-CT(R)).

On the income-tax side, transporters get the most generous presumptive scheme in the Act. Section 44AE deems profit at Rs 7,500 per heavy goods vehicle per month, regardless of the freight you actually earned. Combined with the 194C(6) NIL-TDS option for small fleets, this sector has the cleanest year-end if the paperwork is in place.

1. Income Tax KPIs

The Income Tax Act 1961 — and the new Income Tax Act 2025 effective 1 April 2026 — keep the same pillars: pay advance tax on time, file an accurate return, and stay clean on cash. The KPIs below are the ones an audit officer pulls up first if your file lands on a scrutiny desk.

KPI / Compliance Item	Threshold & Action	Due Date	Source
Sec 44AE — Presumptive scheme	Profit deemed at Rs 1,000 per ton GVW per month for heavy goods vehicles (above 12 MT) and Rs 7,500 per vehicle per month for others. Available only if you owned fewer than 10 vehicles at any point during the FY.	ITR by 31 Jul 2027	Sec 44AE
Tax audit u/s 44AB	Mandatory if (a) you opted out of 44AE and turnover crosses Rs 1 crore, or (b) you owned more than 10 vehicles, taking 44AE off the table.	30 Sep 2027	Sec 44AB
Advance tax	44AE assessees can pay 100% by 15 March (Sec 211(1)(b)).	Quarterly / 15 Mar	Sec 211
Cash payment to GTA — 40A(3)	Higher Rs 35,000 limit (vs Rs 10,000 for others) under the second proviso to 40A(3) for goods carriage payments.	Continuous	Sec 40A(3) Proviso
ITR filing	ITR-3 / ITR-4 SUGAM (44AE) / ITR-5 (firm).	31 Jul / 31 Oct 2027	Sec 139(1)

2. TDS KPIs

TDS payments are due by the 7th of the next month (March is 30 April), and quarterly Form 26Q or 27EQ returns drive Form 16 / 16A on TRACES. Late filing of the return alone costs Rs 200 per day under Sec 234E.

KPI / Compliance Item	Threshold & Action	Due Date	Source
194C — TDS on freight (deductee side)	Customer deducts 1% / 2%. NIL TDS if (a) you own fewer than 10 goods carriages, (b) PAN is furnished, (c) the prescribed declaration is filed with the deductor.	On every invoice	Sec 194C(6)
194C — Payments to sub-transporter	1% / 2% if you sub-let part of a load to a truck owner who has more than 10 vehicles.	7th of next month	Sec 194C
194Q — Diesel, tyres, spares	0.1% on purchases above Rs 50 lakh from one supplier (turnover above Rs 10 crore).	7th of next month	Sec 194Q
194I — Office or parking yard rent	10% on rent above Rs 2.4 lakh in the FY.	7th of next month	Sec 194I
Quarterly Form 26Q	File on time. Verify the deductor's 26AS shows your freight under 194C with the correct PAN.	31 Jul, 31 Oct, 31 Jan, 31 May	Rule 31A

3. GST KPIs

GST is the most data-rich compliance regime — every invoice you raise and every invoice you receive sits on the network. Use GSTR-2B, not 2A, as your reconciliation base from FY 2022-23 onwards.

KPI / Compliance Item	Threshold & Action	Due Date	Source
RCM (default)	5% paid by the recipient (no ITC for the GTA, full ITC for the body corporate, factory, partnership or society receiving the service).	Continuous	Notification 13/2017-CT(R) Sl. 1
FCM at 5% (no ITC) — optional	GTA can opt to pay 5% itself but cannot claim ITC. Election is made in Annexure V by 31 March for the next FY.	Continuous	Notification 03/2022-CT(R)
FCM at 12% (with ITC) — optional	GTA can opt to pay 12% with full ITC of inputs (tyres, spares, fuel). Same Annexure V election.	Continuous	Notification 03/2022-CT(R)
Always-Nil exemptions	Transport of agricultural produce, milk, salt, food grains, organic manure, defence goods. Or single consignment freight of Rs 1,500 or less. Or single consignee freight of Rs 750 or less.	Continuous	Notification 12/2017-CT(R) Sl. 21
Consignment note	Pre-printed and serially numbered, capturing consignee, consignor, description, weight and freight rate. Without this, you are a hire-of-vehicle service, not a GTA.	Per trip	Notification 11/2017-CT(R) Para 2(ze)
E-way bill	Required for movement above Rs 50,000. Transporter ID (TRANSIN) must be entered when the consignor does not generate.	Pre-movement	Rule 138
GSTR-1 / 3B	Monthly, or QRMP if turnover at or below Rs 5 crore. FCM GTAs file regular returns. RCM-only GTAs still file GSTR-1 with reverse-charge marking.	11th / 20th	Sec 37 / 39
GSTR-9 / 9C	Annual return plus reconciliation if turnover above Rs 5 crore.	31 Dec 2027	Sec 44

4. Profession tax (Maharashtra)

Profession Tax is a state levy run by the Maharashtra Goods & Services Tax Department. There are two registrations and most businesses need both — one for the owner, one for the staff.

Registration	Who needs it / what you pay	Due date	Source
PTEC (Enrolment)	For the proprietor, partner, director, LLP or company. Flat Rs 2,500 per year for most non-salaried professions and businesses.	30 June	MahaGST PT Act 1975
PTRC (Registration)	For employers paying salary above Rs 7,500 p.m. (male) or Rs 25,000 p.m. (female). Slabs: Rs 175 p.m. for Rs 7,501–10,000 (male); Rs 200 p.m. plus Rs 300 in February if salary exceeds Rs 10,000. Annual ceiling Rs 2,500 per employee.	Last day of the next month	MahaGST PT Rules

5. Bookkeeping and the filing system

Section 44AA of the Income Tax Act and Section 35 (read with Rule 56) of the CGST Act set the bookkeeping baseline. For most non-professional businesses, books are required if income is above Rs 2.5 lakh or turnover above Rs 25 lakh in any of the three preceding years.

Minimum books to keep

• Cash book, bank book, journal and ledger — daily, on accrual basis (Sec 145 read with ICDS).
• Sales register and purchase register — invoice-wise, with HSN/SAC and GST.
• Stock register — opening, receipts, issues, closing. Mandatory under CGST Rule 56(2).
• Bills, vouchers, e-way bills and delivery challans behind every entry.
• Fixed asset register, block-wise, with the date the asset was put to use.
• TDS / TCS certificates downloaded from TRACES.
• Vehicle-wise log: RC number, gross vehicle weight, fitness expiry, insurance expiry, permit expiry.
• Consignment note book — serially numbered and pre-printed.
• Annexure V (Form 5) filed copy: GST RCM/FCM option for the FY.
• Driver log and diesel slips, day-wise.
• Form 26A declarations from deductors — for the 194C(6) NIL TDS claim, refreshed every FY.

How long to keep them

• Income Tax: 6 years from the end of the relevant Assessment Year (Sec 149). For reopened or search cases, up to 10 years.
• GST: 72 months from the due date of the annual return for the year (CGST Sec 36).
• Companies and LLPs: 8 financial years (Sec 128 Companies Act 2013 / corresponding LLP rules).

6. Sector-specific compliance traps

The four mistakes our team sees most often when we take over books from another firm:

7. Annual compliance calendar (FY 2026-27)

Month	Compliance milestones
April	TDS payment for March (30 Apr); GSTR-1 / 3B for March; PT employee deduction.
May	Q4 TDS return Form 26Q (31 May); Form 16A; SFT-005 / 61A (31 May).
June	Form 16 to employees (15 Jun); Q1 advance tax (15 Jun); PTEC payment (30 Jun).
July	Q1 TDS return (31 Jul); ITR for non-audit cases (31 Jul); QRMP option last month.
August	Routine GSTR-1 / 3B; e-invoice review.
September	Tax audit report u/s 44AB (30 Sep); Form 10B / 10BB (30 Sep) for trusts; Q2 advance tax (15 Sep).
October	Q2 TDS return (31 Oct); ITR for audit cases (31 Oct); GSTR-9 prep starts.
November	ITR for transfer-pricing cases (30 Nov).
December	Q3 advance tax (15 Dec); GSTR-9 / 9C filing (31 Dec).
January	Q3 TDS return (31 Jan); books reconciliation for FY closing.
February	Stock-take preparation; PT special slab (Rs 300 in Feb).
March	Q4 advance tax (15 Mar); Annexure V for GTAs (31 Mar); books closure; year-end TDS.