In our previous blog, we have seen how to automatically configure optional fields for GST at Configuring GST makes easy by GST module for sage 300 ERP-1, in this blog, we will see how GST can be configured easily using our GST Addon.
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Basically, there are 3 main taxes applicable under Goods and Service Tax: CGST, SGST & IGST.
- CGST: Collected by the Central Government on an intra-state sale (e.g. Within Maharashtra)
- SGST: Collected by the State Government on an intra-state sale (e.g. Within Maharashtra)
- IGST: Collected by the Central Government for inter-state sale (e.g. Maharashtra to Tamil Nadu)
As we all have seen whenever we need to add a new Tax group or tax authority we have to follow the basic process required for Sage 300 ERP which means we have to create new tax authority then after we will create the classes, will define tax rates and then will create Tax group with the different tax authority.
But with our Add-on module, we have given separate option screen where by clicking on The “Create Tax Configuration” button, all required sample Tax Authorities (IGST, SGST, CGST), Tax classes, tax rates and Tax groups (IGST, SCGST) automatically get generated at Tax Services. which helps to save users time, Before clicking on Create Tax configuration button user needs to select tax liability and expense Account for the respective tax authority.
Please Find below Auto generated Configuration for CGST Tax Group is created after clicking on GST –> Setup –> Option Screen –>“Create Tax Configuration”.
For Tax Authority:
For Tax Classes Sales: Same as per purchase
Tax Rates for Sales: same for purchase
Tax Group for Sales: same for purchase
By referring these tax configuration, users can create as many as tax authorities and groups as per their need.
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