7 myths of GST busted – Revenue Secretary Hasmukh Adia Tweets to clarify.

Samaj Vikas Samvad,

New Delhi,

7 myths of GST busted – Revenue Secretary Hasmukh Adia Tweets to clarify, as we know that,

The goods and service tax or GST has become a blessing for the Indian economy.

The Indian Tax system is getting reunified under this GST mechanism, this is taking time for the entire techno-commercial algorithms proper placement.

we call this situation in layman’s language a – teething problem.

but, some miscreants are spreading half-truths or misconceptions about the process,

which is creating a disturbing doubt among the end-users.

so to break these disturbing myths-

The Revenue Secretary, Government of India, Dr. Hasmukh Adhia has busted today certain common misconceptions/ myths about GST through a series of tweets from his Twitter

The Revenue Secretary, Government of India, Dr. Hasmukh Adhia has busted today certain common misconceptions/ myths about GST through a series of tweets from his Twitter handle @ adhia03.

These GST myths and the Real fact are as follows-

•  Myth 1:  Do I need to generate all invoices on the computer/ internet only.

Reality 1: Invoices can be generated manually also.

• Myth 2:  I need the internet all the time to do business under GST.

Reality 2: The Internet would be needed only while filing monthly returns of GST.

• Myth 3: I have a provisional ID but waiting for the final ID to do business.

Reality 3: Provisional ID will be your final GSTIN number. To start a business. 

Revenue Secretary Hasmukh Adia Tweets to bust the myth.

• Myth 4: My item of trade was earlier exempt so I will need new registration before starting a business now.

Reality 4: You can register within 30 days while continuing doing the business.

• Myth 5: There are 3 returns per month to be filed.

Reality 5: Now there is only 1 return with 3 parts, out of which the first part is to be filed by the dealer and two other parts would be auto-populated by computer. 

• Myth 6: Even small dealers will have to file invoice-wise details in the return.

Reality 6: the owners of retail businesses (B2C) can file only a summary of total sales.

Myth 7: New GST rate is higher compared to earlier VAT.

Reality 7: all the invisible taxes from the earlier tax regime are now visible within GST tax bracket, that is why the new GST structure is looking a bit higher. 

…

7 myths of GST busted, Revenue Secretary, Hasmukh Adia Tweets,

India Development News, Indian Development News, Indian Social News,

India social News, Developmental News, Indian society News,  

Amazing Amazon News, Samaj Vikas Samvad, New India News, Samaj Ka Vikas,

Gadget Samvad, science-technology Samvad, Global Samvad,

Amazon Prime News, व्यापार संवाद, आयुर्वेद संवाद, गैजेट्स संवाद, समाज विकास संवाद

समाज, समाज विकास, समाज संवाद, विकास, विकास संवाद, संवाद,

samaj, samaj vikas, samaj samvad, vikas, vikas samvad, samvad,