India

Various Indian requirements are now supported.

Master data

  • Country (PAN), State (GSTIN), and Special Economic Zone level tax registration numbers can be maintained for the own organization and the business partner. The registration numbers are retrieved during transactions.
  • The tax setup has been improved to maintain and retrieve default values for intra-state, inter-state, export and import taxes. (Aggregate) tax codes can be retrieved during transactions.
  • HS codes can be maintained for goods and services. HS codes can be retrieved during transactions.
  • Reverse charge (shifted) tax can be maintained. Reverse charge can also be part of the aggregate tax code.
  • The Own Registration code can be used as one of the dimensions to enable ledger postings by dimension for the tax transaction line. The registration code is automatically filled as a dimension for all tax postings. For an indirect tax type, this facilitates the creation of one tax code for the entire country.

Sales

These sales scenarios are now supported:

  • Domestic intra-state sales, B2B and B2C
  • Domestic inter-state sales, B2B and B2C
  • Direct exports, with or without payment of taxes
  • Exports to SEZ units, with or without payment of taxes
  • Deemed exports

Purchase

These purchase scenarios are now supported:

  • Domestic intra-state purchases
  • Domestic inter-state purchases
  • Direct imports
  • Imports from SEZ units
  • Reverse charge (shifted tax) purchases
  • Purchases involving expensed purchase tax

Transfer

A transfer between two warehouses in different GST jurisdictions can be set up as a taxable transaction.

Delivery challans

  • Delivery challans can be generated for goods movement
  • Delivery challans can be generated also after shipment confirmation
  • E-way bill data can be generated for these challans

Subcontracting challans

  • Subcontracting challans can be generated for delivery of components to the subcontractor
  • When a finished product is received, receipts can be linked to one or more challans, which enables complete tracking of the material sent out
  • E-way bill data can be generated for these challans

Shipment charges

For a direct export order, shipment charges such as freight, insurance and handling can be added to a shipment. One or more of these shipment charges can be considered for FOB value calculation.

Letter of undertaking and shipping bill

For a direct export order, letter of undertaking and shipping bill details can be maintained.

Invoicing

  • Invoice series by registration numbers can be maintained
  • For direct exports, a separate tax invoice can be generated

E-invoicing - Sales

  • An e-invoice can be generated for all required invoices
  • API based e-invoices are supported
  • Signed invoices are received which can be used to retrieve a QR code and Invoice Reference Number (IRN)

E-invoicing - Purchase

A QR code can be scanned for purchase invoices.

Withholding tax

  • Business partner PAN-wise thresholds can be maintained
  • For each threshold, a different tax rate can be maintained
  • The appropriate tax rate is retrieved during invoicing transaction

Tax Collected at Source (TCS)

  • Business partner PAN-wise turnover can be derived on a periodic basis
  • A debit note can be generated to collect TCS from the customer

Tax declarations

Tax declarations by registration number are now supported.

Tax reporting

These declarations are now supported:

  • Sales declarations (ANX-01 or GSTR1)
  • Purchase declarations (ANX-02 or GSTR2)

Tax accounting

An Intercompany Trade parameter has been introduced to determine registration numbers, tax jurisdiction, and tax codes based on ship-from state and ship-to state. Options have been added to the Intercompany Trade Relationship. You can now maintain a relationship to trigger an intercompany order only if registration numbers differ.

Purchase invoices can now be matched and approved based on an import reference number. A view filter can be applied to show only the data for which the Import Reference is specified. The import reference is an equivalent of the bill of entry and must be stated on the warehouse receipt during receipt confirmation.