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Is Your iPhone GST Hack Clever? Not If The Taxman Asks
Mint New Delhi
|April 07, 2025
If the device is used personally, the input credit may be denied, and penalties could apply
On social media, tax-saving hacks often get more likes than they deserve. A popular tip doing the rounds is: "Buy an iPhone for ₹2 lakh and claim 18% GST input credit. You save ₹36,000!" On paper, this sounds like a smooth strategy. But as with most things involving tax, the devil lies in the details. Let's break down what this GST input tax credit (ITC) really means—and why blindly following such advice could cost you more in the long run, not just in money but also peace of mind.
Conditions to avail GST ITC on gadgets First, ITC isn't a discount. It's a credit reducing your GST liability, and it's only available to GST-registered businesses. If you are an individual without a business, this hack will not apply to you. Even if you are GST-registered, claiming ITC is not automatic. ITC isn't guaranteed either.
Dit verhaal komt uit de April 07, 2025-editie van Mint New Delhi.
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