Revenue Secretary Hasmukh Adhia clarifies top 7 myths and realities about GST

Revenue Secretary Hasmukh Adhia 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. 

Below are the top 7 myths and reality surrounding the GST: 

Myth 1: I need to generate all invoices on computer/ internet only Reality 1: invoices can be generated manually also 

Myth 2: I need internet all the time to do business under GST Reality 2: Internet would be needed only while filing monthly return of GST 

Myth 3: I have provisional ID but waiting for final ID to do business Reality 3: provisional ID will be your final GSTIN number. Start business.

Myth 4: My item of trade was earlier exempt so I will immediately need new registration before starting business now Reality 4: You can continue doing business and get registered within 30 days 

Myth 5: There are three returns per month to be filed Reality 5: There is only one return with three parts, out of which first part filed by dealer and two other parts auto populated by computer 

Myth 6: Even small dealers will have to file invoice wise details in the return Reality 6: Those in retail business (B2C) need to file only summary of total sales 

Myth 7: New GST rates are higher compared to earlier VAT Reality 7: It appears higher because excise duty and other taxes which were invisible earlier are now subsumed in GST and so visible now.