What is GST Input Tax Voucher (GIV)?
The Goods and Services Tax (GST) Input Tax Voucher (GIV) is a scheme specially designed to support MSMEs (Micro, Small and Medium Enterprises) in India. It enables eligible businesses to claim back the GST paid on their purchases.
Check Your Eligibility
To determine your eligibility for the GST Input Tax Voucher scheme in 2025, you need to meet the following criteria:
- Turnover Limit: Your annual aggregate turnover should not exceed Rs. 1.5 crores in the previous financial year.
- Legal Status: Your business should be a registered MSME under the MSME Act, 2006.
- GST Filing Compliance: You should have filed all GST returns regularly and on time.
- No Outstanding Tax Liability: You should not have any outstanding GST liability, including interest and penalties.
- Bank Account Verified: Your bank account should be linked to the GST portal.
Convenient Steps to Check Eligibility
1. Login to GST Portal:
- Visit the official GST portal (https://www.gst.gov.in/).
- Enter your GSTIN and password to login.
2. Navigate to ‘Services’ Section:
- Once logged in, click on the ‘Services’ tab in the top menu bar.
- Select the ‘Registration’ option.
3. Click on ‘Input Tax Voucher (GIV) Services’:
- Under the ‘Registration’ section, click on the ‘Input Tax Voucher (GIV) Services’ link.
4. Select ‘GST Input Tax Voucher’ Tab:
- In the GIV Services page, click on the ‘GST Input Tax Voucher’ tab.
5. Verify Eligibility:
- The system will display a message indicating whether you are eligible for the GST Input Tax Voucher scheme or not.
Benefits of Claiming GIV
- Reduced GST Burden: Claiming GIV helps reduce the GST burden on eligible businesses, freeing up more capital for growth and expansion.
- Financial Stability: The scheme provides a financial cushion to MSMEs, enabling them to manage cash flow and navigate economic challenges.
- Investment and Job Creation: The reduced GST burden allows businesses to invest in growth initiatives and create new jobs, contributing to economic development.
Documents Required for GIV Claim
- GST registration certificate
- GST returns for the previous year
- Bank account details linked to the GST portal
- Proof of MSME registration (if not already provided)
Conclusion
The GST Input Tax Voucher (GIV) scheme is a valuable initiative that supports MSMEs in India. By checking your eligibility and meeting the requirements, you can claim GIV and reap the numerous benefits it offers. This comprehensive guide provides all the necessary information to help you navigate the eligibility process and unlock the financial advantages available to eligible businesses.
