Hello @lubos In India the tax system is changing from July this year. And the requirements for a legally accepted invoice is changed. Even though the invoice layout can be customized, there will be some complications regarding the new invoice format that is needed. A lot of customization will be n…

This is how the tax reconciliation works… (excuse me if something is wrong, I am not a CA) I have tried this as an example for Indian GST monthly filing, though the filing for Purchase and Sales are separate. [image] Here the tax liability is ascertained only at the end of the period and we can …

[image] anoopchintu: Our CA, mentioned that the format is a guideline and we can have our own formats, but with all the details mentioned (as per requirement). This can only be accepted when a sales invoice contains items that all fall under the same tax slab. That is the reason the govt issu…

[image] sharpdrivetek: This can only be accepted when a sales invoice contains items that all fall under the same tax slab. That is the reason the govt issued a template rather than just guidelines. When there are multiple items with different HSN codes and different tax rates, the template pres…

[image] sharpdrivetek: Also, as per guidelines, when goods are supplied, the supplier is required to issue three copies of the invoice– Original, Duplicate, and Triplicate. Friend, this is a nice free software and there should be some sort of contribution from our side to run our business. I …

[image] sharpdrivetek: The website accepts tax invoice as per the prescribed template. Please read this too… From the above report, if manual calculation is made, we will know our tax liability. PLEASE NOTE THAT THE REQUIRED FILING HAS TO BE DONE IN PRESCRIBED FORMAT AND IT CAN BE DONE BY A …

[image] sharpdrivetek: This can only be accepted when a sales invoice contains items that all fall under the same tax slab. [image] [image]

As you consider and discuss the challenges presented by these new requirements, make sure you have read this Guide: https://www.manager.io/guides/best-practices/multi-component-custom-tax-codes If I interpret @anoopchintu correctly, the Guide illustrates his approach.

Yes, That’s true… @anoopchintu described things very nicely. But I don’t know that we can make invoice format by our self and not as per the GST probable example given… If you are true about Invoice format than its so much easy for manager team and for us also. [image] anoopchintu: Availing in…

@lubos Is there a way to lock the business and transaction details? I have tried the lock date under settings but that does not lock the business details shown on invoices, etc. After GST implementation all business will be given a different business identifier. So the documents before and after …

[image] sharpdrivetek: After GST implementation all business will be given a different business identifier Are we talking a totally different identifier or an amendment to the existing one. In other countries with such changes they just added a two digit prefix to the existing identifier so i…

India's New GST Invoice Format

anoopchintu June 20, 2017, 2:06pm 43

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India's New GST Invoice Format

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