Mumbai: Finance Ministry has launched 'GST Rates Finder' mobile app with an aim to ease the entire process of filing of the Good and Services Tax. Traders are supposed to file as many as 37 returns every year under the new indirect tax regime.
There are more than 1,250 goods and services in country that have been put under 0 per cent, 3 per cent, 5 per cent, 12 per cent, 18 per cent and 28 per cent tax slabs. A 'highest' tax slab of 40 per cent -- which is just an enabling provision -- has also been incorporated under GST.
The GST Council had brought in the 40 per cent tax slab so as to make a future GST rate hike possible and to avoid going to parliament again. If the GST is a game changer then the 'GST Rates Finder' mobile app would be a milestone in India's tax history. Here are ten things that you should know about the new app:
1) Finance Minister Arun Jaitley has launched the GST Rates Finder App. It will be of a great help for users who want to know different rates for various goods and services under GST regime.
2) As of now, the finance ministry has made the mobile app available only for Android smartphones that could be downloaded from Google Playstore. The ministry has indicated it will make the app available on the iOS platform on a later date.
3) The app can be downloaded on any smartphone and can also work offline once it gets into your handset.
4) By using the app, a user can determine the rate of goods and services by entering the name or chapter heading of the commodity or service.
5) The search result will flash on your mobile screen all the goods and services wit the name that you had typed in the search box.
6) 'GST Rates Finder' mobile app is not the only one mode of knowing different GST tax rates. Central Board of Direct Taxes has also made this facility available on its website http://cbec-gst.gov.in. This has been done to make the entire exercise of knowing GST rates sa hassle-free one.
7) A user of the app will be able to search for applicable Central GST, State GST, Union Territory GST and compensation cess on a supply.
8) The search can be made based on description of goods or services or HSN Chapter or section or heading number, Finance Ministry said.
9) Ministry adds that these steps are being taken to make them serve as ready reckoner on GST rates.
10) The purpose of the launch of 'GST Rates Finder' mobile app is to empower taxpayers, every citizen of the country and to ascertain correct GST rate on goods and services.
