GST launched: 8 myths busted — here are the facts

Asserting that people should not fall for any rumor, Adhia in a series of tweets cleared the myth about GST and said that the process around the implementation and execution will be transparent

By: Express Web Desk | New Delhi | Updated: July 3, 2017 11:48 am
GST myths, gst message, gst whatsapp message, card payment gst, gst double tax cards payment, Hasmukh Adhia, GST, GST Rollout, Business News, Latest Business News, Indian Express, Indian Express News Revenue Secretary Hasmukh Adhia addresses the gathering during the inauguration of the GST training workshop. PTI Photo

Revenue Secretary Hasmukh Adhia on Sunday cleared apprehensions of the consumers over the complexities of the Goods and Services Tax (GST) reform, which is likely to benefit the honest taxpayers. Asserting that people should not fall for any rumor, Adhia in a series of tweets cleared the myth about GST and said that the process around the implementation and execution will be transparent.

Higher tax rate

Myth: The new GST rate is higher compared to earlier VAT.

Reality: It appears higher because excise duty and other taxes which were invisible earlier are now subsumed in GST and so visible now.

Paying utility bills by card:

Myth: If a person makes payment of utility bills by credit cards, they will be paying GST twice.

Reality: Inaccurate. GST is only levied once, irrespective of the payment being made by cash or cards.

Electronic transactions:

Myth: All invoices must be generated on computer/internet only.

Reality: Invoices can be generated manually also

Internet connectivity:

Myth: A retailer needs internet all the time to do business under GST

Reality: Internet would be needed only while filing the monthly return of GST.

Business permits:

Myth: A retail business I have provisional ID but waiting for final ID to do business

Reality: Provisional ID will be your final GSTIN number.

Ease of doing business:

Myth: An item of trade was earlier exempt so the retailer will need new registration before starting a business now.

Reality: You can continue doing business and get registered within 30 days.

Filing returns (businesses):

Myth: There are three return per month to be filed

Reality: There is only one return with three parts, out of which first part filed by the dealer and two other parts auto-populated by computer.

Small-scale businesses:

Myth: Even small dealers will have to file invoice wise details in the return.

Reality: Those in retail business (B2C) need to file only summary of total sales.

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