SURPRISE ME!
Do your employees travel frequently on business? Are you saving money by claiming Input Tax Credit on their business travel? While most of us are aware of GST, we miss out on the savings that we can avail when paying taxes, in the form of ITC.
Let us learn more about this crucial component.
Thereafter, once your product/service is ready, suppose, you have to pay INR 500 as tax on sales. Here, you can claim input credit of INR 400 (paid during business travel) and only pay remaining INR 100 as tax.
Read More: Save Big on Your Company’s Business Travel with MakeMyTrip’s myBiz
Read More: Make Your Company Travel Smarter with MakeMyTrip’s myBiz
You can claim the GST from both, your service provider, as well as the supplier:
The process to follow for claiming ITC is:
For e.g., if your company has a Delhi GTIN, and you have booked a hotel in Nagpur, you will not be able to claim ITC. To be able to do so, you need a Maharashtra/pan India GSTIN.
Because it is a smart corporate travel management platform offering a customizable, real-time self-booking system, which seamlessly integrates into a company’s structure to deliver convenience, transparency, savings, and the power of choice.
Switch to myBiz today and step into a world of Savings & Privileges!
Add savings & convenience to your corporate travel! |
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