The initiative will roll out in a phased manner, with phase 1 enabling businesses to input their GSTIN on the Myntra app at checkout
Adding to the festive fervor, Myntra will allow registered businesses to purchase fashion, beauty, and lifestyle products directly from the platform. By enabling GST-registered buyers to avail input tax benefits, Myntra aims to address a critical gap in the traditional wholesale ecosystem for small and bulk purchases.
The company noted that GSTIN validation at checkout ensures input tax benefits of up to 18 per cent, making purchases more cost-efficient. Retailers and corporate buyers can now order branded products from top brands, avoiding the hassles of multiple layers of procurement typically involved in the retail supply chain, the official statement added.
“With this new capability coming just in time for the festive season, we are extending unprecedented convenience to retailers and businesses, ensuring they can confidently source products with ease and speed. It strengthens the ecosystem by solving the critical challenge of transparency and credibility for our brand partners and supply reliability for our business shoppers, to be able to, in turn, serve their end user better,” highlighted Bharath Kumar BS, Senior Director, of Revenue and Growth, Myntra.
Over 10,000 brands with 40 lakh offerings will now have the opportunity to opt in for B2B businesses to purchase their products on the Myntra platform. The initiative will roll out in a phased manner. Phase 1 enables businesses to input their GSTIN on the Myntra app at checkout, automatically generating GST-compliant invoices and tax benefits and is already live now.
Phase 2 will further enhance the offering with bulk-order handling capabilities. This includes the capability for customers to place a request for their bulk requirements, which would flow into the brands listed on the platform, dedicated customer support, and supply chain optimisation for business buyers.
