GST :No double tax on credit card payments

New Delhi, July 04: The Goods and service Tax has been rolled out on July 1st, 2017, Still many of the people have under confusion.

Here confusion ruled among consumers and businesses with messages floating around on social media about a double taxation on credit cards payment.

From this perspective, The government came into action with Revenue Secretary Hasmukh Adhia taking to Twitter busting "7 myths" that were doing the rounds about the new tax regime.

Adhia, the architect behind the country's largest tax reform, also sought to dispel concerns that if a person makes payment of utility bills by credit cards, he/she will be paying GST twice.

This is completely untrue. Please do not recirculate such message without checking it with authority," Adhia said.

Busting the myth that GST rates are higher than value-added tax (VAT), Adhia said, "It appears higher because excise duty and other taxes which were invisible earlier are now subsumed in GST and so visible now."

He reiterated that businesses can continue to do business under GST with provisional ID number and businesses need not wait for Goods and Services Taxpayer Identification Number (GSTIN).

"Provisional ID will be your final GSTIN number. Start the business," Adhia said.

He said that businesses need not generate all invoices on computer/ internet only. "Invoices can be generated manually also".

On the rumor that businesses which were earlier exempt will immediately need new registration before starting the business now, Adhia said, "You can continue doing business and get registered within 30 days".