New Delhi: The Revenue Secretary Hasmukh Adhia through a series of tweets from his twitter handle has busted certain common misconceptions/ myths about GST.


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These myths relating to  GST and Reality of each one is given below:


Myth 1: Do I need to generate all invoices on computer/ internet only.


Reality 1: Invoices can be generated manually also.


Myth 2: I need internet all the time to do business under GST.


Reality 2: Internet would be needed only while filing monthly return of GST.


Myth 3: I have provisional ID but waiting for final ID to do business.


Reality 3: Provisional ID will be your final GSTIN number. So start business.


Myth 4: My item of trade was earlier exempt so I will need new registration before starting business now.


Reality 4: You can continue doing business and get registered within 30 days.


Myth 5: There are 3 returns per month to be filed.  


Reality 5: There is only 1 return with 3 parts, out of which first part is to be filed by dealer and two other parts would be auto populated by computer.


Myth 6: Even small dealers will have to file invoice wise details in the return.


Reality 6: Those in retail business (B2C) need to file only summary of total sales.


Myth 7: New GST rate is higher compared to earlier VAT.


Reality 7: It appears higher because excise duty and other taxes which were invisible earlier are now subsumed in GST and so visible now.