GST EXPLAINED : 7 Myths Addressed by Dr. Hasmukh Adhia

Myth 1 : I need to generate all invoices on computer(Software) or Internet?
Reality:Invoices can be generated manually too

Myth 2: I need Internet all the time to do business under GST?
Reality : Internet is required only while filling the Return.

Myth 3: I have PID waiting for GSTIN?
Reality : PID will be your final GSTIN.

Myth 4: There are three returns which needs to be filled in a month?
Reality: There is only one return with three parts .Out of which GSTR1 to be filled by Dealer , the other two will be autopopulated.

Myth 5: Even Small businesses will have to upload invoice wise details at the GST portal?
Reality : Only B2B are require to upload invoice wise detail. Retailers(B2C) need to file only summery of the sales.

Myth 6: New GST Rates are higher as compared to the Pre Gst Regime?
Reality :  It appears higher because of excise and other taxes which were invisible in earlier tax regime and are now subsumed in GST regime.

Myth 7 : My item of trade were Earlier exempt , I'll need new registrations before starting business?
Reality: You can continue doing business and get yourself registered with in 30 Days.

Massive Discounts on Flipkart

GST he triggered massive sale on Flipkart. Check exclusive deals below:

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Source : Twitter