Application of GST Rate finder app in GST

People by now has become well versed with GST and it is known factor that based upon the new tax system which is GST, the rate of the goods are varied but yet the public doesn't have a clear idea on which goods and services actually the GST is showing its influence. And it is this concern of the government which lead to creation of GST rate finder app to bring awareness to public at large in understanding about GST rate, HSN/SAC classifications and this resulted in Form of  an application named GST Rate Finder App is launched, one can get a clear idea about GST using this app, and this application is introduced as a mobile application on Friday by the finance minister Arun Jaitley. It also helps the consumers and businessmen to find accurate rates of various goods and services. Right now the application has been made available for Android platform and will soon be made available for iOS.

As government took initiative to educate the consumers and traders since it has launched GST on June 30-July and as part of that it launched this app then, which enables access to information such as GST rates from the CBEC GST website. Once the GST Rate Finder app has been downloaded it can be used in offline mode as well. The governments scheduled program of series of GST "master classes" aimed at addressing queries and clarifying any confusion or doubt regarding the new tax regime have commenced laterally benefitting taxpayers tin understanding about GST and its intricate terms.  The class is like an hourly based program held across six days.

How to download GST Rates Finder App launched by CBEC : One just need to follow these simple steps briefed below.

Usage of the app : To begin using the app, first one has to download this app from play Store on Android compatible mobiles. And then install the same following the above mentioned steps for making it ready for usage. One just need to enter the name or chapter heading of the commodity or service in the search box and the app will list the goods and or Services as per your search which will be displayed with new GST rates and also would contain the description of goods or services and the chapter heading of the Harmonised System of Nomenclature (HSN).

Central Board of Excise and Customs  have also included a tab called 'GST Rate Finder' on its portal in the GST tab for the users to find applicable GST rate on their supplies of goods and services. A taxpayer can search for applicable rates of Central, State, Union Territory GST and compensation cess on a supply. Newly updated software on GST tax rules are also available in the market that are supporting the GST taxation system in the business world.

Insights about CBEC GST rate finder app : First of all this App is different from GST rate finder app launched by Finance ministry and it is available for download on the Google Play Store and also on the CBEC Portal cbec-gst.gov.in. This app is more detailed than the GST Rates Finder app. It  provides chapter-wise lists of GST Rates, Integrated GST exemption, concession lists, revised thresholds, composition levy etc. It also shows the Harmonised System of Nomenclature (HSN) code associated with each good or service. Well the app works offline but it doesn't navigate back to previous menus without closing and reopening the app.

On the grounds of appearance and functionality, this app is very simple to use. Apart from GST Rate finding, this app also has a section of GST Acts and Rules, instructions for migration to GST, GST assistance and more. With the help of this app, taxpayer can search for applicable CGST, SGST, UTGST rate and Compensation Cess on a supply based on description of goods or services or HSN Chapter or section or heading number. This app is targeted to serve as an ready reckoner on GST rates.

A sneak peak into GST rate finder app will give you the best results in case you are struggling to find HSN/SAC Code and the applicable tax rates for the supplies made by you. But at the same time, there's a limitation in the app which one should take care of while drawing results for HSN/SAC Codes and the relevant GST rate as the quick search bar won't deliver all the results which one search for as shoe has been categorized as Footwear in the Schedule. If you do not know the correct term available in the schedule, it is likely you will not be able to find the rate. And this has already been cautioned in the app itself by way of Disclaimer and a link which opens up to CBECs Rate finder application which provides the detailed chapter wise list of GST Rates. Having said you will also be requiring a Journalising tool which would record the products or services HSN/SAC Codes, the applicable GST Rates for such products or services and Tally.ERP 9 beside being an accountant friendly ERP Software also tucks in it the varied features of GST. Like the one we are discussing here. Tally. ERP 9 has built in its module a provision for journalising HSN/SAC Codes and Tax rates.