Hi friends, When I was researching on the best deals on iPhones, I came across the following answer by some person on quora. To be honest, I really dont understand it. And neither do I know if its true and would it really work. Perhaps the C A and accountant professionals in this group could understand it better. But since I found it interesting, I thought I would just share it with you guys. If it is true, may be some of you can take advantage of it... And if somebody does, then please let me know and I'll follow suit for my iPhone 8 plus, < smiles I found it at the following quora link, the answer is also pasted below, https://www.quora.com/What-is-the-best-price-at-which-I-could-buy-an-iPhone-X-in-India
You can buy the iPhone X in India at just Rs. 50,000. This is NOT some stupid logic that we will give you. We also wouldn’t ask you to buy the iPhone X from the USA. You can buy the iPhone X in India (Original iPhone X 64GB with all the warranties)!!!! EasemyGST - Your trustworthy GST consultant will show you how you can use GST to prevent monetary losses. GST Impact: Here’s how the ‘iPhone X’ will cost your company Rs. 50,000 only! Please Note: This is not an article that will tell you to buy it from the United States. The latest unveiling of the iPhone X by Apple has given many passionate fans sleepless nights already. In India, the number of iPhone memes have drastically increased and some have probably decided which kidney they would be sacrificing to get their hands on the ‘phone from the future.’ In this article, we will tell you how you can buy the iPhone X in the price of a Samsun Buy an iPhone X in INR 50,000! For all the readers who have no idea of the price of an iPhone X, the ultra-powerful product is tagged at an ultra-expensive price: INR 89,000 for the 64GB variant and INR 1,02,000 for the 256GB variant. But we will tell you how you can buy the iPhone X in just Rs. 50,000 in India itself. Now as GST in India has already kicked in, you must have heard about the term Input Tax Credit. If you haven’t, ask your CA. According to the provisions of ITC, a taxpayer will receive a credit (money) on the tax he has paid for buying a particular product. Now if you want to buy an iPhone X in INR 50,000, just follow the below steps: 1. Buy the iPhone X in the name of your company. Pay the company INR 50,000. 2. Now, your company will go to the Apple dealer and purchase the iPhone X at the market price, i.e., INR 89,000 (inclusive of 12% GST). The company will show this phone as its expense. 3. At the time of GST return filing, the company will raise a purchase invoice in GSTR 2 and receive an Input Tax Credit of 12%, i.e., nearly INR 10,700 on the iPhone X. That makes the cost INR 78,000. Now let us take this value to INR 50,000! Read on: The company can depreciate the value of the product. Businesses can depreciate the value of long-term assets ( in this case, the iPhone X) for both tax and accounting purposes. For tax purposes, businesses can deduct the cost of the tangible assets they purchase as business expenses. In this case, depreciation of 15% will be applicable, year-on-year. This will probably bring down the cost of the iPhone X from INR 89,000 to nearly INR 50,000 Search for old postings at: http://www.mail-archive.com/accessindia@accessindia.org.in/ To unsubscribe send a message to accessindia-requ...@accessindia.org.in with the subject unsubscribe. To change your subscription to digest mode or make any other changes, please visit the list home page at http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org.in Disclaimer: 1. Contents of the mails, factual, or otherwise, reflect the thinking of the person sending the mail and AI in no way relates itself to its veracity; 2. AI cannot be held liable for any commission/omission based on the mails sent through this mailing list..
