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August 6, 2022

Debunking Myths around GST

by CA Shivam Jaiswal in GST

Debunking Myths around GST

1. MYTH

GST charged on cash withdrawal from banks

FACT

This statement is false.

▸ No GST is levied when withdrawing cash from banks

▸ In addition, there is no tax on customer cheques

2. MYTH

GST imposed on all ICU rooms & emergency services in hospitals

FACT

This statement is false.

▸ Only 5% tax is imposed on hospital rooms that have a rent of 5,000+

3. MYTH

GST imposed on loose food items

FACT

This statement is false

▸ No GST imposed on loose food items

▸ This is to ensure the poor are not burdened

4. MYTH

GST imposed on all existing crematoria, mortuaries or funeral services

FACT

This statement is not true

▸ Tax is levied on construction of new crematorium but not on existing crematoria, funeral services.

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