In INMF legal entity, for GST transactions (tax document) the program will round off amount to the nearest even number for 0.05 case.
In INMF legal entity, for GST transactions (tax document) the program will round off amount to the nearest even number for 0.05 case (This is due to C# rounding logic). e.g.1) 4.735 would be rounded to 4.74 and 4.745 will also be rounded to 4.74 2) 18.225 would be rounded to 18.22 and 18.215 will...
Data entity upload functionality to upload threshold definition and references in the withholding tax codes to map the vendors
(IND) Set up threshold limits Currently, the system is designed to map the vendors for threshold ranges manually, one at a time. Briefly, the steps are followed as such: 1. We setup the Threshold Definition in the Tax module 2. We Create the threshold ranges 3. Enable Threshold References for Wi...
Management of the number sequence code in Italian sales tax book sections during the change of the year
In Italy there is a fiscal requirement which states that invoice numbering must be consequent and in chronological order. Moreover, there is the requirement to start the sequence of each sales tax book from 1 every year. During the change of the year, customers are normally posting invoices in bo...
Data entity for GST reference number sequence group
There is no data entity available for the below- 1) Creation of GST reference number sequence group 2) Mapping of Number sequence code with GST reference number sequence group These are base functionality available and data entity is must as location wise number sequence needs is the primary req...
Provision to capture GST in expense report
As per the GST law company can avail credit for the taxes paid on expenses for categories like Hotel, cabs, flights, etc. There is no provision in the expense report to capture GST information when the expenses are recorded. To use the input taxes as credit it should be recorded first in the syst...
[ITA] Withholding tax for customers
art. 25-bis of the DPR 600/73 https://def.finanze.it/DocTribFrontend/getArticoloDetailFromResultList.do?id={3BB076B5-3306-4B2A-BB50-398BE3E10F67}&codiceOrdinamento=200002500000200&idAttoNormativo={178F0CBC-1969-49F3-974E-7C0E87B9A568} Suggests withholding tax for Customers and vendors. Italian l...
Malaysia Tax MYS_Sales Service Tax (SST) Long Overdue and Payment Records
Malaysia has Malaysia Government regulatory on SST embarked since Oct 2018, that company need to pay the SST amount for any outstanding invoices that have been overdue for more than 12 months. Refer to this link: https://mysst.customs.gov.my/SSTAccounting Therefore, user will need to identify th...
VAT 100 Box 1-9 display values
Include box numbers as display values on the VAT 100 submission report, to allow easy identification when in communication with HMRC.
Threshold limit for deduction of GST TDS
Article explains Provisions of TDS under GST, By whom TDS under GST are to be deducted, Date from which Deduction of TDS under GST to be made, Rate of TDS under GST, Threshold limit for deduction of TDS under GST, https://taxguru.in/goods-and-service-tax/detailed-analysis-examples-tds-gst.htm...
Transfer Pricing - Compliance Warning
When transacting with a Related Party / Inter-company Dynamics should at the very least provide a prompt/warning to request the user to acknowledge that they understand the transaction must comply with Transfer Pricing rules before proceeding to post the transaction. There is similar functionali...
Administrator
We will consider it for future through DCR.