GST Rate Finder app launched: What you need to know

GST Rate Finder app launched: What you need to know

Launched on July 1, the goods and services tax, or the GST, aims to unify the nation and its 125 crore people into a single market.

In a tweet, the IT Minister Ravi Shankar Prasad disclosed that the mobile app could be downloaded from Google Play Store. Available on Android and IOS.

GST Rates Finder app would also work in offline mode, once downloaded on the smartphones by the users.

"It is pertinent to point out here that the services by an employee to the employer in the course of or in relation to his employment is outside the scope of GST (neither supply of goods or supply of services)", it said. This is to check the prevalent practice of companies giving expensive gifts to their staff to boost business or to pay their staff in ways different from regular remuneration in order to evade taxes.

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Touching upon the suggestion to have a single GST rate system, Mr Naidu said, the time is not yet ripe for such a mechanism as there are economic disparities in the society that needs to be taken into account.

According to the traders and freight forwarders, the authority at the Kolkata Port earlier used to impose 15 percent logistic service charge on goods imported from third countries. Clarifying on reports of tax incidence on sanitary napkins under GST, a finance ministry statement said, "The tax incidence on this item before and after GST is the same or less". However, lease rentals will be subject to GST.

CBEC has also provided a GST rate finder on its portal to help the taxpayers know the applicable GST rate on their supplies of goods and services.

This will put domestically manufactured sanitary napkins at a huge disadvantage vis-à-vis imports, which will be zero rated, the finance ministry said. Bringing the country under a uniform tax regime, GST is expected to add 2 per cent to India's GDP (gross domestic product). For example, if a user enters Diamond in a search box of Tax Rate section, that particular list of description is displayed for buyers reference where the applicable GST rates and tax details are mentioned.

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