Tuesday, June 28, 2022
Home Facts Can you really save GST While purchasing iPhone?

Can you really save GST While purchasing iPhone?

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Most of the people who have the GSTIN Pin number think that they can save upto 20000 Rs while purchase any electronic item using the GST bill.

Here are some facts that you should know before purchasing any item using the GST

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Government give you ITC on items which can be carried forward 5 years. So just in case you are purchasing an electronic item and use it for two years so you only get the benefits of 40% of the total ITC from the government 

But if you carry forward the electronic item to another person. You have to return the remaining 60% amount to the government because you have only used the item for two years.

So just in case you have purchased an iPhone and saved 20000 rupees from ITC and use it for 2 years then you have to return 12000 rupees.

Thank you for reading this article.

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