We guess, the GST guy had enough of the questions.
GST jokes have been doing the rounds on social media ever since the government introduced the new tax regime. One of the bigger problems was people’s inability to understand the complicated rules, which led to the government setting up a Twitter handle @askGST_GoI to answer queries.
However, a tweet on Saturday morning left tweeple in splits when the GST handle tweeted a simple ‘No’. Even though the tweet was deleted, eagle-eyed Twitterati noted the error and the handle became the butt of jokes on Twitter.
A little time later, the handle tweeted to no one in particular: “No, it is not permissible. Pl see Rule 117(1) of CGST Rules.”
Section 117(1) deals with tax carried forward. Read the complete rule here.
Here's how Twitter reacted to the 'No':
Buckling under pressure, just three months after the rollout, the GST Council last evening made sweeping changes to give relief to small and medium businesses on filing and payment of taxes, eased rules for exporters and cut tax rates on as many as 27 items.
Businesses with annual turnover of up to Rs 1.5 crore, which constitute 90 per cent of the taxpayer base but pay only 5-6 per cent of total tax, have been allowed to file quarterly income returns and pay tax instead of the current provision of monthly filings.
Also, the turnover threshold for businesses to avail of the composition scheme that allows them to pay 1-5 per cent tax without going through tedious formalities, was raised to Rs 1 crore from current Rs 75 lakh.
"The GST Council has considered the implementation experience of the last three months and gave relief to small traders... Compliance burden of medium and small taxpayers in GST has been reduced," Finance Minister Arun Jaitley told reporters after the 22nd meeting of the Council last evening.
The Council also cut tax rates on 27 common use items.
Tax on unbranded namkeen, unbranded ayurvedic medicines, sliced dried mango and khakra has been cut to 5 per cent from 12 per cent while the same on man-made yarn is reduced from 18 per cent to 12 per cent.
"I am happy that it has been welcomed in one voice across the country," Modi said.
With inputs from PTI
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