Wednesday, 26th July, 2017
Snippets

7 facts about GST that you should know

03, Jul 2017 By Sandeep Kadian

Goods and Services Tax (GST) has been rolled out with effect from 1st of July 2017. There has been a lot of confusion about GST and internet is full of fake news about it. Therefore, we thought we should end some of those rumours by posting some facts about GST. Please go through them.

GST
Good And Simple Tax!

1- It is NOT mandatory to upload an image of your first GST bill on social media websites. Even if you see everyone around you doing it, don’t!

2- It is NOT mandatory to come up with your own full form of GST. Don’t be a wannabe Vankaiah Naidu.

3- No GST applicable on bribes in government departments. Please report the corrupt officials who ask for 18% more than the standard bribe amount. Bribe is a free service and hence can’t be taxed.

4- Yes, home delivery of food from AC restaurants will have 18% GST even if you don’t own an AC at your home. In fact, home delivery from non-AC restaurants will also have 18% GST.

5- Contrary to the rumours, filing returns post-GST is very easy, pick up your phone, call a Chartered Accountant, that’s all.

6- Alcohol is not covered under GST so the prices are not changing. Go have a few drinks and then you won’t care about GST.

7- Ravindra Jadeja’s brain freezes in an ODI run chase. We know it is not related to GST but still, had to be said.