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Govt busts GST myths, asks people to ignore rumours

The revenue secretary said that new GST rates were not higher compared to the earlier VAT

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Union Revenue Secretary Hasmukh Adhia
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The Centre asked the public not to fall for rumours around the Goods and Services Tax (GST), and cleared a few apprehensions about the new nationwide tax that rolled out on Friday midnight.

Union Revenue Secretary Hasmukh Adhia put out a series of tweets on Sunday, and said that the process around the implementation and execution of GST would be transparent. He addressed some of the myths and said that invoices can be generated not just electronically, but manually as well.

Internet services are needed only while filing returns, and not all the time, he said, adding that even those with provisional, and not final, GST IDs can start business. If someone's item of trade was earlier exempt from tax, he or she can continue doing business and get registered within 30 days, Adhia said. He also busted a myth that there are three returns per month to be filed, and said, "There is only one return with three parts, out of which the first part is filed by the dealer and two other parts are auto-populated by the computer."

He also addressed reports that even small dealers will have to file invoice-wise details in returns, and said, "Those in retail business (B2C) need to file only summary of total sales."

The revenue secretary said that new GST rates were not higher compared to the earlier VAT.

"The new rates appear higher because excise duty and other taxes which were invisible earlier are now subsumed in GST and are visible now."

"Nothing to worry on GST's implementation, don't need big IT infrastructure. Even B2B does not need big software. We will give free software," he said.

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