"This will empower not only the taxpayers, but every citizen of the nation, to ascertain the correct GST rate on goods and services", said the Ministry of Finance.
First Download the App from Playstore on Android Mobile Phones.
The Finance Ministry informed that the mobile app can be downloaded on any smartphone and works in offline mode also. (Read here about GST app launched by govt) GST is India's most ambitious tax reform since independence and subsumes over a dozen central and state taxes that were levied on goods and services earlier.
With the Goods and services tax (GST) comes into effect from 1 July, the micro, small and medium enterprises (MSMEs) would be able to compete with foreign competition coming from cheap cost centers such as China, Philippines, and Bangladesh, the Associated Chambers of Commerce and Industry of India (ASSOCHAM) said on Sunday.
The ministry said if the GST rate on sanitary napkins was to be reduced from 12% to 5%, it would further accentuate the tax inversion and result in a higher accumulated ITC, with correspondingly higher financial costs on account of fund blockage and associated administrative cost of refunds.
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The Finance Ministry also said that Input Tax Credit (ITC) Scheme under GST does not allow ITC of membership of a club, health and fitness centre.
Commenting upon the importance of the new tax regime, she said till now there have not been proper monitoring of the transactions taking place in the country. However, lease rentals will be subject to GST.
"The GST regime will usher in lower taxes, seamless input tax credit, logistics savings and market share swings from unorganized to organised players", the statement added.
Immediately the list of all the goods and services containing the name which has been typed in the search box.
The GST Rates Finder will serve the users as the analyst for the GST rates. The taxpayers can get a GST rate finder on its portal http://cbec-gst.gov.in to know about applicable GST rate on their supplies.
It also includes the description of goods or services and the chapter heading of the Harmonised System of Nomenclature (HSN).
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