The General Idea
Under GST, a registered business can usually claim input tax credit (ITC) on GST paid for goods and services used in its business, subject to the conditions in the law. That includes many purchases of electrical equipment and spares used in your operations.
What You Typically Need
- A valid GST tax invoice showing the supplier details and GST charged.
- Your correct GSTIN on the invoice as the recipient.
- The goods actually received.
- The supplier having reported the sale and paid the tax in their return.
Practical Tips When Ordering
- Enter your GSTIN and company name at checkout so the invoice is issued to your business, not an individual. On TEKTOW this is available by selecting the GST invoice option.
- Check the HSN code and tax rate on the invoice. See GST and HSN codes for electrical equipment.
- Keep invoices and delivery records for your accounts.
A Note
Eligibility depends on your specific situation and the current rules, so confirm details with your chartered accountant or tax advisor. This article is general information, not tax advice.
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