- 1 Beware of False Propaganda in the name of GST – Know Actual Truth
- 2 Beware of False Propaganda in the name of GST
- 3 1. Flat will become expensive
- 4 2. will require to file 3 returns every month
- 5 3. GST will increase inflation
- 6 4. Do not have the freedom to make invoices
- 7 5. Customers will not be benefitted from the reduction in Prices
- 8 6. Registration is not complete, not business
- 9 7. Data will not stay safe
- 10 8. Inspector Raj will return
Beware of False Propaganda in the name of GST – Know Actual Truth
Beware of False Propaganda in the name of GST: Various conflicts are being spread in the market on Goods and Services Tax. Many examples of this have emerged in recent days, such as the builders have massively propagated that things will get expensive after GST, so people who take the house will already pay. Many more such delusions are in the minds of people and businessmen who are spreading due to the lack of information. We are telling you about 8 such lies and their truth.
Beware of False Propaganda in the name of GST
1. Flat will become expensive
The builders from the people who book the under construction flat are asking to make full payment before July 1, saying that after that they have to pay more taxes. In this case, by issuing a statement from the Finance Ministry itself, the builders have been warned that they should not mislead the customers. At present, the rate of GST is low compared to the state and central government taxes. Experts are expecting the rate of flat rate can be reduced after GST is implemented.
2. will require to file 3 returns every month
Small businessmen are afraid that due to GST, three returns will be filed in one month and file an annual return. Such a paperwork will be difficult for them. In this matter, GST Council’s Addition Secretary Arun Goyal said that businessmen will have to file only GST Returns 1, returns 2 and 3 will be generated automatically. If some of the returns 2 and 3 are missing then the businessman will have to file it.
3. GST will increase inflation
There is also an illusion in the market that the implementation of GST will increase the inflation. The statement issued by the Reserve Bank of India on this matter says that GST will not make any difference in the rate of inflation. According to the RBI, in the first half, it can be between 2 and 3.5 percent and in the second half it can be between 3.5 to 4.5 percent.
4. Do not have the freedom to make invoices
On this issue, the Central Board of Excise and Customs recently issued a statement saying that the businessmen are confused about the fact that they have to make GST invoice in a fixed format and invoicing will be a huge task. this is not right. GST Taxpayer is free to create invoice design and format. Just in that they must include some necessary categories.
5. Customers will not be benefitted from the reduction in Prices
Tax rates on many items in GST will be lower than before. It is being said that due to the complexity of the tax system, customers will not be able to benefit from it. In this case, the government has made it clear that the business will have to give the share of the exemption or benefits it receives to the customer, otherwise it will be taken action. An Anti-Infrastructure Authority is being set up for this purpose.
6. Registration is not complete, not business
There is also a rumor spread that if a businessman did not complete the registration process in GST till July 1, he would not be able to do business, while it is not so. Revenue Secretary Hasmukh Adhia says that the traders who are unable to complete the registration process can not be disturbed. The business will continue to run normally after the GST is implemented.
7. Data will not stay safe
This is the confusion among small businessmen about GST that data of the turnover, sales and business practices of business people will be handled by the tax inspectors and it can provide this data to their competitors. But this is not so. The government has made such arrangements that the information related to the traders can not be misused.
8. Inspector Raj will return
It is also discussed in the traders that Inspector Raj will return from GST. But this is not possible. This system is completely transparent and is online. The system of complaint and settlement has been fully digitized.