Phone Repair Shop Financial Management: Bookkeeping & GST Guide
Manage repair shop finances. GST registration and filing guide, bookkeeping tips, income tax for repair businesses. Financial planning for growth.
Table of Contents
GST for Repair Shops
Registration required if annual turnover exceeds ₹20 lakh. GST rate for repair services: 18% (HSN 9987). Claim Input Tax Credit on parts, tools, rent — reduces effective tax burden.
Bookkeeping Best Practices
Use software like MyRepairShop or Zoho Books. Keep separate records for store and spare parts purchases. Maintain digital copies of all invoices. Reconcile bank statements monthly.
Frequently Asked Questions
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