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GST for dealers in second hand goods

Position regarding applicability of the Margin Scheme under GST for dealers in second hand goods in general and for dealers in old and used empty bottles in particular. 

Doubts have been raised regarding the applicability of the Margin Scheme under GST for dealers in second hand goods in general and for dealers in old and used empty bottles in particular.

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certain common misconceptions/ myths about GST.

source: Press Information Bureau / July 02, 2017

The Revenue Secretary, Government of India, Dr. Hasmukh Adhia busts seven misconceptions about newly implemented law relating to Goods and Services Tax (GST). 

The Revenue Secretary, Government of India, Dr. Hasmukh Adhia through a series of tweets from his twitter handle @adhia03 has busted today certain common misconceptions/ myths about GST.

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. 

2nd Day after roll-out of GST passed without any major problems

source: Press Information Bureau / July 02, 2017

2nd Day after roll-out of GST passed without any major problems; Dhabas and big Restaurants as well as from Kirana shops to Departmental Stores have started getting acclimatized to the new tax system;. 

Since 25^th June, 2017, 2.23 lakh new dealers have entered the GSTN system by filing draft applications of which 63,000 have also submitted full details, of which 32,000 dealers granted fresh registrations also;. Revenue Secretary, Dr. Hasmukh Adhia appeals to people not to circulate any unverified messages through social media. 

Second Day after the roll-out of Goods and Services Tax (GST) with effect from 1^st July, 2017 has passed without any major problems being reported from the field. The Central and the State Governments’ officers are trying their best to provide the required and the correct information to the trade and industry. Revenue Department, Govt. of India has got encouraging reports from the roadside Dhabas and big Restaurants as well as from Kirana shops to Departmental Stores which, in turn, have started getting acclimatized to the new tax system. 

Since 25^th June, 2017, 2.23 lakh new dealers have entered the GSTN system by filing draft applications of which 63000 have also submitted full details, of which 32000 dealers have been granted fresh registrations also. 

The Revenue Secretary, Government of India, Dr. Hasmukh Adhia has appealed to people not to circulate any unverified messages through social media.