Thursday 26 May 2022
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Hasmukh Adhia busts 7 misconceptions about GST

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New Delhi: Revenue Secretary Hasmukh Adhia, through a series of tweets from his Twitter handle @adhia03, has sought to bust today certain common misconceptions or myths about GST, or  about it.

According to the revenue secretary, these myths relating to GST and the real scenario corresponding to each are as follows. The myths appear in italics and the realities in bold.

I need to generate all invoices on computer/ internet only.

Invoices can be generated manually also.

I need the internet all the to do business under GST.

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

I have provisional ID but waiting for final ID to do business.

Provisional ID will be your final GSTIN number. So start the business.

My item of trade was earlier exempt so I will need new registration before starting the business now.

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

There are 3 returns per month to be filed.

There is only 1 return with 3 parts, out of which first part is to be filed by the dealer and two other parts would be auto populated by computer.

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

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

New GST rate is higher compared to earlier VAT.

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

The revenue secretary went on to clear the doubts of several respondents on Twitter thereafter.

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