Tuesday, 4 July 2017

GST MISCONCEPTION BUSTED BY THE REVENUE SECRETARY


Sn.MythsReality
1I Need To Generate All Invoices On Computer / Internet Only.Invoices Can Be Generated Manually Also .
2I Need Internet All The Time To Do Business Under Gst.Internet Would Be Needed Only While Filing Monthly Return Of Gst.
3I Have Provisional Id But Waiting For Final Id To Do Businesss.Provisional Id Will Be Your Final Gst In Number Start Business.
4My Item Of Trade Was Earlier Exempt So I Will Need New Registration Before Starting Business Now.U Can Contineu Doing Business And Get Registered Withn 30 Days.
5There Are 3 Returns Per Month To Be Filed.There Is Only 1 Returns With 3 Parts Out Of Which First Part Filed By Dealer And Too Ather Parts Auto Populated By Computer .
6Even Small Dealers Will Have To File Invoice Wise Details In The Returns .Those In Retail Business (B2C) Need To File Only Summary Of Total Sales .
7New Gst Rate Is Higher Comparted To Earlier Vat.It Appears Higher Bcoz Excise Duty And Other Taxes Which Were Invisible Earlier Are Now Subsumed In Gst And So Visible Now.

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