Is GST breaking your head? Revenue secretary busts seven myths
1/3
Straight from the horse's mouth
The day after GST rollout, there were lot of apprehensions among people on how it will affect their finances, businesses and day-to-day life.
On July 2, revenue secretary Hasmukh Adhia, the driving force behind the framing of GST, took to Twitter to break some common misconceptions about the tax.
On July 2, revenue secretary Hasmukh Adhia, the driving force behind the framing of GST, took to Twitter to break some common misconceptions about the tax.
2/3
Business permits
Myth: I have provisional ID for a retail business but waiting for final ID.
Reality: Provisional ID will be your final GSTIN number.
Reality: Provisional ID will be your final GSTIN number.
3/3
Small-scale businesses
Myth: Even small dealers will have to file invoice wise details in the return.
Reality: Those in retail business (B2C) need to file only summary of total sales.
Reality: Those in retail business (B2C) need to file only summary of total sales.