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EU VAT 8th directive
When your business is working in an international environment within the EU, you may receive invoices which charge VAT from another EU Member State than your country of establishment. This VAT can reclaimed under the EU VAT 8th directive from the tax authority of the other EU member state. Currently it's very difficult for us to keep the overview and to reconcile the VAT amounts with incoming VAT refunds, in particular when you have outstanding refunds to multiple EU countries. In D365 unfortunately there is no functionality to cover this special treatment of cross-border VAT in the EU. So we use the standard Sales tax setup which is not sufficient to us. we suggest to create some extra functionality and reporting on this. Any suggestions: - marking EU VAT amounts with VAT refunds for settlement ? - a special tax report that show all EU VAT transactions based on a parameter on the sales tax code setup -
INDIA localization - TAX - withholding tax payment simulation for TDS TCS
It would be a large added value if we could run a simulation report of the Withholding tax payment for TDS/TCS in the Tax module of the India localization.
Up till now we can only run the Withholding tax payment (tickmark 'update'), without actually knowing up front what the withholding tax payment transactions will be for that month (split-up by 'section' and by 'nature of assessee')
if we would have a simulation first, then we could still make corrections with the withholding tax journal, before actually posting the Withholding tax payment.
as payment of TDS / TCS is done on governement tax web portal and challans afterwards should be allocated to the WTP transactions in d365, this would make all the work easier.
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India localization - withholding tax payment - TDS / TCS - report
It would have a large added value for our company to have a report showing the withholding tax payment transactions, after running the withholding tax payment for TDS and TCS
now the withholding tax payment only performs a posting, not showing any details of the posting done
just an overview of the withholding tax payment transactions (by section and by nature of assessee) would help already
(so actually the postings that will be done on the vendor mentioned on the withholding tax authority
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India - MSME reporting
in India, MSME companies are protected (= "Micro, Small and Medium Enterprises")
payments to these vendors must be done on very short notice
companies are legally obliged to submit a "Form MSME-1" every half year , with all outstanding amounts to these types of vendors, for which payments are outstanding for more than 45 days (some sort of aging report)
failure to submit such a report if you have such outstanding amounts, will attract penalties
we don't see any functionality about this in the India localization, although it is a legal requirement
how can we identify vendors as a registered 'MSME' and create the necessary report on it?
MSME's also have unique ID registration numbers
link to all information:
https://cleartax.in/s/form-msme-1
thanks
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Create folder structure for favorites
it would be practical to be able to create a folder structure for the favorites
now they are sorted alphabetically, but if you have a long list it's not practical
a folder structure could help to bundle favorite forms for example by module
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