While accounting, your book value could be reduced for mobile by 15 It may help for tax deduction but invoice price need to be incurred.
Sent from my iPhone > On 16-Jun-2018, at 9:01 AM, john clayton <nishantra...@gmail.com> wrote: > > Hi, > you would need to own a company to do this,though... > I guess we all should start filing new company registration papers to > registrars... =) > I get the 12% gst returns, but I have no clue how depritiating the iphone > would bring its cost to 50k. > > you would still be paying the origenal price though, just get some 12% plus > 15% (if the latter part works) as tax returns and diductions. > > > On 15 June 2018 at 16:31, Rishi Kewalramani <rishi.kewalram...@gmail.com> > wrote: > >> 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.. >> > > > > -- > *** > “The most important thing in life is not the triumph but the struggle. The > essential thing is not to have conquered but to have fought well.” > > > > 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.. 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..
