Bengaluru: E-commerce marketplace Flipkart said on Tuesday it is strengthening its focus on business customers by enabling them to get their Goods and Service Tax Identification Number (GSTIN) on their invoices, thereby allowing them to claim input tax credit on their purchases.
The capability to allow GSTIN on their invoices will help millions of business entities to claim input tax credit on their business-related purchases, saving up to 28 per cent on their purchases, it said.
The platform will service different types and sizes of organisations that could belong to corporates, offices attached to facilities like manufacturing and warehousing, small office home office (SOHOs), offices of chartered accountant organisations, clinics, law firms, consultancies and institutes include service organisations like schools, colleges, hospitals, banks and salons among others.
According to industry experts, over five crore businesses have a growing need for office equipment and infrastructure to serve their employee base. As a result, the sector is likely to see year-on-year growth of 80 per cent through e-commerce.
Flipkart said capabilities such as GST invoicing for office-related purchases can further help these organisations save money and re-allot resources appropriately.
Business entities transacting on Flipkart can purchase stationery, mobiles, televisions, office chairs and laptops while at the same time solve for their ad-hoc needs, have greater transparency, save time from market visits and broken supplier base.
To avail GST input tax credit, businesses need to choose a product, which has GST enabled sellers, add their GSTIN details during checkout and claim the GST invoice to claim the benefit.