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Showing posts from March, 2017

Interview Question and Answer on GST

FAQ on GST (Goods and Services Tax)General GST (Goods and Services Tax) Question:Once GST is applicable, is it necessary for us to deactivate the excise functionalities?
There is no need for us to deactivate the excise functionalities since excise and GST will co-exist (for certain specific materials).

When can the customer expect the GST note to be available?
The GST notes shall be delivered to the customers in a number of phases. 16th December is when the first GST note will be available.

Is CIN required in going ahead for implementation of GST?
Separate activation is not required for CIN because it is not delivered as an Add-ON any longer. It is a part of standard EhPs, as of now.

Will it be suitable for us to re-assign the present plant to new business places created for GST?
Due to historical data, that will not be possible.
GST (Goods and Services Tax) Question related FI:Does SAP offer different fields for storing GST Partner, HSN/SAC code, or Place of Supply in FI postings…

GST(Goods and Service Tax) India Solution

The Government of India is planning to roll out GST from 1st of July, 2017 as per the latest update.
Based on the draft Model GST law SAP has started releasing Notes for DDIC changes, Screen Changes, Master Data and transaction data.
The proposed GST India Development roadmap is available in the GST JAM page –
These Notes are the draft notes and is not for Productive use. The “Disclaimer” should be read before going ahead and implementing the solution. And always the latest version of the Note should be applied.
Refer to the below SAP note for information on GST prerequisites
Minimum Support Pack level and tax procedure required is TAXINN.
2315692 – Information on GST
The list of SAP Notes for GST solution and the order in which they should be applied are below and will be updated as and when there is a new note…

SAP to help Hyderabad SMEs in GST compliance

Enterprise software solutions giant SAP feels the upcoming Goods and Services Tax (GST) regime can act as a huge disruption to prop up India's $2.5trillion economy for taking a big leap to become an over $10trillion entity in 12 years. The technology giant believes that the country's 50 million-plus small and medium enterprises will act as a big growth driver in this new taxation system.

"GST will play a big role to push our economy to a new high. It will open a huge business opportunities. The growth of SAP lies in the growth of the SME sector in the country. Of SAP's 7,500 clients in India, over 80% belong to SME segment," said SAP head (marketing-Indian sub-continent) Krishnan Chatterjee here on Wednesday. Chatterjee was in Kolkata to unveil 'GST in a box', an all-inclusive solution portfolio designed to help organizations of all sizes in Kolkata to become tax-compliant and tax-efficient in the GST era.

"SMEs have always suffered for lack of credit.…

GST: Making the most of India’s big new tax reform

Given the usual speed of economic reform in India, it’s remarkable that the biggest change in years might actually start on schedule. “Start,” though, is the operative word.

If the country’s new national goods-and-services tax does go into effect in July, which looks more likely now that Parliament has passed the requisite legislation, that will be worth celebrating. The GST will greatly improve a fractured tax system and help create an integrated Indian market. But to make the most of this bold innovation, the government has a lot more work to do.

Under the current tax system, different states impose separate levies as goods move across the country. Truckers spend hours idling at internal borders, filling out forms and awaiting inspection. Small and medium-sized companies prefer not to grow rather than have to deal with the administrative burden of becoming national enterprises. Compared to this mess, even a less-than-perfect GST would be an improvement.


Get GST ready with SAP’s GST Health Check

GST will change the way businesses function, impacting all operations and processes. It is expected to bring unprecedented changes in businesses across all sectors. The tax reform all slated to roll out shortly, will lead to over-arching changes to the way companies do business, compelling them to make changes to operations.Technology will play a crucial role in the implementation of GST leading to SAP’s role in the enablement of business’ migration towards GST compliance. To ensure your organization is well in sync with the new tax reform, you need to be GST ready and SAP is all set to empower businesses with GST Health Check. The personalised test will ascertain your level of GST readiness and help you with a seamless transition.
Here are the top 3 reasons why you should get GST compliant at the earliest and register for GST Heath Check:
Strong technical backbone is required to support the complex and voluminous process changes of GST complianceOrganisations that do not imple…

GSP Concept

It is expected that the GSPs shall provide the tax payers with all services mentioned above in addition to maintaining their individual business ledgers (sales ledger and purchase ledger) and other value added services around the same. Another important service expected from GSPs is the automatic reconciliation of purchase made and entered in the purchase register and data downloaded in the form of GSTR-2 from the GST portal. In additional there will be sector-specific or trade specific needs which the GSPs are expected to fulfil. The conceptual diagram depicting the same is as given below.
While the GST System will have a G2B portal for taxpayers to access the GST System there will be a wide variety of tax payers (SME, Large Enterprise, Small retail vendor etc.) who will require different kind of facilities like converting their purchase/sales register data in GST compliant format, integration of their Accounting Packages/ERP with GST System. Similarly, the specific nee…