Allowing businesses to add GSTIN while making purchases will allow them to claim input tax credit (ITC) on the GST paid during purchases
Blinkit has likely launched the new offering to streamline bulk buying experience on the platform
Blinkit is seeing strong growth and almost achieved adjusted EBITDA breakeven in Q1 FY25. Its gross order value (GOV) surged 130% YoY to INR 4,923 Cr during the quarter
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Zomato-owned Blinkit has rolled out a new functionality that allows businesses to add goods and services tax identification number (GSTIN) while making purchases on the quick commerce platform.
This will effectively enable businesses to claim input tax credit (ITC) on the GST paid to Blinkit for buying products. For the uninitiated, ITC allows businesses to reduce their tax liability by claiming GST paid on purchases.
“We’ve rolled out the ability to add GSTIN for businesses purchasing on Blinkit. A lot of our customers have been asking for GST invoices as it is a big decision-making factor, especially for high-value purchases,” said Blinkit CEO Albinder Dhindsa in a LinkedIn post.
The company has likely launched the new offering to streamline bulk buying experience on the platform. Besides, businesses will be easily able to claim their ITC on the GST portal without having to separately feed the data on the tax portal.
The new offering comes at a time when Blinkit has aggressively diversified its product mix from merely offering grocery items. Last month, the company began selling the newly launched iPhone 16 on its platform and has been adding more electronics products to the offerings listed on the platforms.
In August, the company rolled out “10-minute” delivery of passport-size photos in Delhi and Gurugram. In the same month, it also allowed users from select countries to send rakhis and gifts to their siblings in India during Raksha Bandhan.
The latest development comes at a time when Blinkit is seeing strong growth and almost achieved adjusted EBITDA breakeven in Q1 FY25. It clocked a gross order value (GOV) of INR 4,923 Cr during the quarter, up 130% from INR 2,140 Cr in the corresponding quarter last year. Sequentially, GOV rose 22.2% from INR 4,027 Cr.
The quick commerce juggernaut operated 639 dark stores across the country at the end of June 2024. Besides, its average daily GOV throughout per store rose to INR 10 Lakh from 639 stores as of Q1 FY25 as against INR 6 Lakh from 383 stores in Q1 FY24.
The company has set its eyes on increasing the number of dark stores under its belt to 2,000 by the end of 2026.
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