Prabhat Bhargava Microsoft SENIOR PROGRAM MANAGER

The deduction of GST-TDS is provided in the application at the time of payment to the vendor or receipt of payment from the customer. However, the base amount for GST-TDS computation would be the payment amount net of GST tax amount. Currently, in the application, there is no option to deduct the GST amount from the payable amount to compute GST-TDS. Through this feature, the expectation is to get the GST tax amount automatically in the payment Journal from the respective Invoices at the time of invoice settlement. For example, an Invoice is raised by the seller of 50,000, and GST is applied @10% i.e. 5000 so total payment required to made by the buyer to the vendor of INR 55,000. When applying GST-TDS at the time of payment the expectation GST-TDS @ 1% should compute on INR 50,000.

Financial dimension linking to the delivery address in tax information for Non-PO There should be an option to link a financial dimension to addresses so that when a dimension/address is changed, the other component changes automatically. This is required for GST compliance purposes as some clients face the issue of selecting a different location as a dimension and a different location in tax information.

TDS is currently at the vendor level In the case of a vendor providing more than one service in a single invoice and attracting different TDS rates, the clients have to either request vendors to split invoices or create duplicate invoice lines with different voucher numbers for the same invoice.

Under section 195A TDS is required to be deducted on gross up method as below : gross up rate % = 100 / (1 – WHT rate) = 100 / (1 – 15%) = 100 / 0.85 = 117.65%

In Nov 2020 govt. removed the invoice linkage with the Credit note. Now it is not mandatory to link credit/debit notes with the original invoice. If users want they can remove the original invoice reference from debit and credit notes. In the current application, this option is not available to the user and an original invoice reference is a must.

Along with the GST transaction id, the original invoice Id should display in all the forms where the user needs Invoice information for settlement, ageing, reconciliation and reporting purposes.

Journal print reports (Pre or post) on posting does not consider GST and TDS/TCS-related value in the print report.

Many customers are looking to define a legal entity as SEZ unit. Currently, the option is available to mark EPZ code for Customers and vendors only. This means domestic companies interacting with SEZ units can record transactions but if the company itself is SEZ units then not possible to execute transactions.

On certain products such as footwear tax rate is based on the price of the product. In such a case, till a particular value tax is applied at a particular rate and after crossing that price different tax rate would apply. Currently, only a guidance document is available. Need to incorporate this feature under standard configuration.

When the transaction is executed between the following entities UTGST is applied instead of SGST : In the case of intra-state supplies where the location of the supplier and place of supply are in the same UT. Currently, the user has to create new tax component UTGST if applicable in any customer scenario. It should be part of standard configuration as generic in nature.