LG C9 OLED at 1.2L effective on Amazon. Hear me out.

[sandeeprawat]

No, you just show the TV as part of your office expenditure & claim input GST, a big 28% saving right away.
Heck, you may even claim 40% depreciation (calculated through the written down value method) every year in your co's ITR.
Also, if @pauljoseph 's above idea works, then amazon business portal also has this 65 & 55 C9 with GST invoice and No Cost EMI option available thereby saving you a huge chunk.

I have a GST registration but no income from business and filing zero return (and sometime penalty due to delay filing) I wonder if I should be able to claim credit for all the time and compliance cost I'm still paying for some stupid business idea I had long time ago.

 

[Rane-2020]

No, you just show the TV as part of your office expenditure & claim input GST, a big 28% saving right away.
Heck, you may even claim 40% depreciation (calculated through the written down value method) every year in your co's ITR.
Also, if @pauljoseph 's above idea works, then amazon business portal also has this 65 & 55 C9 with GST invoice and No Cost EMI option available thereby saving you a huge chunk.

saving is around 22% .its always better to purchase it offline.as currently C9 on amazon is 2.17L even if you take GST benefit its 169,500 approx.If you buy it offline the price will be around 1.85L and 145,000 approx with GST benefit that's a saving of 25K.

 

[Lobogris]

After reading about this, I tired it recently. I purchased a Dyson V11 vacuum cleaner on Flipkart. The actual price is like 56k but there were various sales and card offers which brought it down to around 42k. So let’s take 42k as the actual price. I chose the longest possible no cost EMI option for 24 months leading to a discount of 6.2k. I called and checked with several of my credit card issuers and they all stated that they will charge a 3% pre closure penalty. I chose Indusind Pinnacle card as it provides a 2.5% cashback on online spending which would almost make up for the pre closure fee. So I made the purchase and I was charged just 36k on my card. I called the next day to pre close but was informed that I had to wait until the purchase is converted to EMI. I told them I had selected the EMI option in error. They reiterated that there would be a 3% fee. About 5 days later the whole amount of 36k was credited to my card as it was converted to EMI and the EMI due for that month was billed. Now I called again and requested pre closure. This time the representative assured me that there would be no penalty. In a couple of days the amount of 36k was rebilled on my card. The EMI amount was removed and the GST charged on it was reversed as well. No penalty or any other charge was billed. So I ended up saving around 6k on my purchase of 42k. Even if a 3% penalty were to be levied, it would be just around 1k and I would still have saved 5k plus the 2.5% cashback on the credit card. So overall a great trick for saving money!

 

[Appys]

Can you make a flow diagram They said a picture is worth a thousand words especially for dummies like me

 

[Lobogris]

Can you make a flow diagram They said a picture is worth a thousand words especially for dummies like me

A flow diagramme of what?

 

[Donivlapog]

I told them I had selected the EMI option in error. They reiterated that there would be a 3% fee.

Now I called again and requested pre closure. This time the representative assured me that there would be no penalty. In a couple of days the amount of 36k was rebilled on my card. The EMI amount was removed and the GST charged on it was reversed as well. No penalty or any other charge was billed. So I ended up saving around 6k on my purchase of 42k. Even if a 3% penalty were to be levied, it would be just around 1k and I would still have saved 5k plus the 2.5% cashback on the credit card. So overall a great trick for saving money!

Both these communications were with IndusInd card side or the online merchant?

 

[Donivlapog]

Can you make a flow diagram They said a picture is worth a thousand words especially for dummies like me

To add to the privious post I am posting what I can understand from this transaction
Step 1 - Find the online merchant's offer price clubbing other offers (42k here)
Step 2 - Online merchant's 24 month EMI to be selected
Step 3 - After a day or two (to max 5 days) to see if the amount billed in your card is a discounted emi purchase.
Step 4 - pre close it with a small penalty of say 3%.
Am I right?

 

[Lobogris]

Both these communications were with IndusInd card side or the online merchant?

With Indusind. The merchant, i.e. Flipkart had nothing to do with the process after the initial purchase.

 

[Lobogris]

To add to the privious post I am posting what I can understand from this transaction
Step 1 - Find the online merchant's offer price clubbing other offers (42k here)
Step 2 - Online merchant's 24 month EMI to be selected
Step 3 - After a day or two (to max 5 days) to see if the amount billed in your card is a discounted emi purchase.
Step 4 - pre close it with a small penalty of say 3%.
Am I right?

Step 1:
Correct. Find the best price and see which merchant is offering no cost EMI and how much discount that would provide. This can be seen by trying to select the options and purchase the product without going through with the payment. Meaning pretend to buy all the way till you get to authorising your credit card and see the actual amount being charged. This process doesn't work with normal EMIs where you have to actually pay the interest with no discount offered by the merchant. Not all products have no cost EMI. Some merchants have it from time to time. Online merchants are better as they provide an immediate discount. Offline merchants supposedly send you a credit for the discount after 30 days. I am not sure if cancelling the EMI would affect this.
Step 2:
24 months or the longest period offered. Sometimes it is 18 months or 36 months. You can click on various options and see which provides the maximum discount. Normally, longer the EMI period, more the interest charged and more the discount. So select the longest no cost EMI option provided. Since we are cancelling, we don't care about tenure.
Step 3:
First the full amount charged will reflect on your card in a day or two like 36k in my case just like any other purchase. After about 5 days of this amount being charged, it will be removed from your card as it gets converted to EMI and the EMI amount for that month will now reflect on your card. That is when you call to pre close the EMI.
Step 4:
Correct except often they won't charge any penalty.

 

[Vegetoroxx]

After reading about this, I tired it recently. I purchased a Dyson V11 vacuum cleaner on Flipkart. The actual price is like 56k but there were various sales and card offers which brought it down to around 42k. So let’s take 42k as the actual price. I chose the longest possible no cost EMI option for 24 months leading to a discount of 6.2k. I called and checked with several of my credit card issuers and they all stated that they will charge a 3% pre closure penalty. I chose Indusind Pinnacle card as it provides a 2.5% cashback on online spending which would almost make up for the pre closure fee. So I made the purchase and I was charged just 36k on my card. I called the next day to pre close but was informed that I had to wait until the purchase is converted to EMI. I told them I had selected the EMI option in error. They reiterated that there would be a 3% fee. About 5 days later the whole amount of 36k was credited to my card as it was converted to EMI and the EMI due for that month was billed. Now I called again and requested pre closure. This time the representative assured me that there would be no penalty. In a couple of days the amount of 36k was rebilled on my card. The EMI amount was removed and the GST charged on it was reversed as well. No penalty or any other charge was billed. So I ended up saving around 6k on my purchase of 42k. Even if a 3% penalty were to be levied, it would be just around 1k and I would still have saved 5k plus the 2.5% cashback on the credit card. So overall a great trick for saving money!

Congratulations on the new vaccum cleaner.
May i know which offer did you apply on Dyson which brought it down to 46k.
Thanks

 

[Redflag]

Step 1:
Correct. Find the best price and see which merchant is offering no cost EMI and how much discount that would provide. This can be seen by trying to select the options and purchase the product without going through with the payment. Meaning pretend to buy all the way till you get to authorising your credit card and see the actual amount being charged. This process doesn't work with normal EMIs where you have to actually pay the interest with no discount offered by the merchant. Not all products have no cost EMI. Some merchants have it from time to time. Online merchants are better as they provide an immediate discount. Offline merchants supposedly send you a credit for the discount after 30 days. I am not sure if cancelling the EMI would affect this.
Step 2:
24 months or the longest period offered. Sometimes it is 18 months or 36 months. You can click on various options and see which provides the maximum discount. Normally, longer the EMI period, more the interest charged and more the discount. So select the longest no cost EMI option provided. Since we are cancelling, we don't care about tenure.
Step 3:
First the full amount charged will reflect on your card in a day or two like 36k in my case just like any other purchase. After about 5 days of this amount being charged, it will be removed from your card as it gets converted to EMI and the EMI amount for that month will now reflect on your card. That is when you call to pre close the EMI.
Step 4:
Correct except often they won't charge any penalty.

I was checking out the frame 65 inch. If I follow your method, I am geeting 1,17,000 as the final price with about 9000 as no cost emi discount. If I foreclose me payment, how much will the final price end up? Would it be 108000?

 

[Lobogris]

Congratulations on the new vaccum cleaner.
May i know which offer did you apply on Dyson which brought it down to 46k.
Thanks

This was in March. There was some sort of anniversary offer going on that gave some discount from Dyson and then Flipkart had some additional discount on using any credit card. The price was 42k, not 46k after all discounts which was then brought down to around 36k using the no cost EMI discussed here.

 

[Lobogris]

I was checking out the frame 65 inch. If I follow your method, I am geeting 1,17,000 as the final price with about 9000 as no cost emi discount. If I foreclose me payment, how much will the final price end up? Would it be 108000?

Yes. It will be the final price after all discounts minus 9000. If you get charged a pre closure penalty of 3%, it would be around 3k. So your savings would be approx. 6k. Where are you seeing this?

 

[Redflag]

Yes. It will be the final price after all discounts minus 9000. If you get charged a pre closure penalty of 3%, it would be around 3k. So your savings would be approx. 6k. Where are you seeing this?

On Flipkart with hdfc cc emi

 

[Lobogris]

I was checking out the frame 65 inch. If I follow your method, I am geeting 1,17,000 as the final price with about 9000 as no cost emi discount. If I foreclose me payment, how much will the final price end up? Would it be 108000?

After checking it on Flipkart, I think there is some misunderstanding. The HDFC discount is max 1250 on it. So how did you get the 117k as final price? What pincode are you using?

 

[Redflag]

After checking it on Flipkart, I think there is some misunderstanding. The HDFC discount is max 1250 on it. So how did you get the 117k as final price? What pincode are you using?

Please check.

 

[Lobogris]

Please check.

Ok, then 117k will be your final price. The 8.9k EMI discount is already factored in. Why don’t you proceed further all the way to payment authorization and you will see what amount is being charged to your card. That will be your final price. No further discount will come after that.