There is no doubt about the high price of the Samsung Galaxy S24 Ultra, and including GST (Goods and Services Tax) makes it even more expensive. Who doesn’t want to save a chunk of money in a clever yet straight way? The good news is that there are some smart ways to do so by which you can save on tax on this particular product.
In this guide, we’ll go through some legal ideas for saving on the Samsung Galaxy S24 Ultra and you’ll also get to know how you can save money on your next purchase.
Understanding GST on Samsung Galaxy S24 Ultra
Samsung along with other mobile phones asks for 18% tax in India, so you have to pay that much extra with the smartphone’s retail price. That means you’ll be paying ₹18,000 extra as GST and the total cost will be ₹1,18,000 if the base model of the Galaxy S24 costs ₹1,00,000.
| Particular |
Amount in INR |
| Purchase Price |
1,00,000/- |
| GST @ 18% |
18,000/- |
| Total |
1,18,000/- |
But fear not! After reading this article, you will be aware of some techniques to reduce or reclaim part of this tax, particularly if you’re a business owner or have GST registration.
1. Claim Input Tax Credit (ITC) if You Have a Business
Input Tax Credit (ITC) on the taxable amount can be claimed with your business name. The only thing is, you have to show that the purchased smartphone is for business purposes. Then, you simply deduct the paid GST from your liability when you file your Return Filing.
You can offset that amount against the GST you collect from your customers. To claim ITC, make sure:
- You have a valid GST registration.
- You maintain a proper GST-compliant invoice for the purchase.
- You use the smartphone for business purposes, which can be documented for audit purposes.
2. Buy on EMI for Better Cash Flow
Opting for EMI (Equated Monthly Installments) can also help you save a high upfront price along with GST. While this won’t save on GST directly, you can manage the purchase with an improved cash flow. Some institutions also offer no-cost EMI, so you will only be paying the GST and not any additional interest on your monthly payments.
Learn More: GST on Apple AirPods 4 in India
3. Look for Corporate Discounts or Business-Specific Schemes
Some smartphone retailers and manufacturers offer corporate discounts for business purchases. Suppose you or your company have an existing partnership with Samsung or a reseller. In that case, you may be eligible for reduced prices on bulk orders or even single devices, which can lower the total amount of taxes you pay.
Also, if you’re purchasing the Galaxy S24 Ultra for a team or business function, inquire about GST-related promotions or business-specific financing schemes. These can help reduce the effective cost, even if the GST rate remains unchanged.
4. Buy During Sales or Special Offers
Flipkart’s Big Billion Days or Amazon’s Great Indian Festival can also reduce your Galaxy S24 Ultra’s price. Retailers often absorb GST and some other costs during sales, which can let you save a lot.
Additionally, cashback offers from banks or credit card providers can offset part of the total cost, including GST. Be sure to check for special bank tie-ups and offers when making the purchase.
Learn More: GST on iPhones 16 and how to save it?
5. Purchase Under a Business Name
Professional freelancers with GST registration can purchase it under their business name and can save. After that, one can claim an Input Tax Credit, and it will also help with proper documentation to support the claim during GST Return Filing.
Conclusion
Everyone knows that the Samsung Galaxy S24 Ultra is a premium smartphone that comes with a premium price tag. So, we have to pull out some relevant ideas to mitigate the GST’s impact.
There are a lot of ways if you’re a business owner, just make use of Input Tax Credit and proper GST return filing. Even for individual buyers, strategies like EMI plans, corporate discounts, and seasonal offers can help them save. These techniques won’t let one compromise with their desired product and help them buy at a reasonable price.
What are the benefit for applying for the gst number in india
Moreover, If you want any other guidance relating to GST Return Filing or GST Updates, please feel free to talk to our business advisors at 8881-069-069. Download the E-Startup Mobile App and Never miss the latest updates narrating to your business.