Minister of State for Finance, Santosh Kumar Gangwar,on Friday, informed the Parliament that the the government has sanctioned Rs 2,256 crore outlay for project Saksham, which will strengthen the information technology network for the new GST regime. Minister of State for Finance, Santosh Kumar Gangwar,on Friday, informed the Parliament that the the government has sanctioned Rs 2,256 crore outlay for project Saksham, which will strengthen the information technology network for the new GST regime. ‘Saksham’ is the name given to CBFC’s IT Infrastructure Project, which enables the application of Goods and Services Tax (GST), as well as it will provide assistance to existing services in Customs, Central Excise and Service Tax. Gangwar added that the Project Saksham will also facilitate expansion of the Indian Customs' Single Window Interface for Facilitating Trade (SWIFT) and other taxpayer-friendly initiatives under Digital India and ease of doi...

“GST has opened up opportunities for businesses in over 160 countries and helped them move beyond the physical constraints to expand exponentially by harnessing digital prowess, “said DS Rawat, secretary general, Assocham. The roll-out of the new GST government will make it necessary as a result over 51 million SMEs in India to consider reinvesting or redefining their business processes. GST will change the India does a business. India is having a huge population so the estimated invoices uploaded on GST will be three to five billion every month. And over 40% transactions will be process through SAP system. So the SAP consultants need to ready for the GST implementation. Goals: Understanding GST and impact in SAP system of customers TAXINJ Estimating work involved to migrate SAP system of customer from TAXINJ to TAXINN Learning configuration steps involved in implementing TAXINN and activating the same Understanding SAP tool usage ...

The Central Goods and Services Tax Bill, 2017 (CGST Bill, 2017), Union Territory Goods and Services Tax Bill, 2017 (UTGST Bill, 2017), Integrated Goods and Services Tax Bill, 2017 (IGST Bill, 2017), Goods and Services Tax (Compensation to States) Bill, 2017 has been passed in loksabha there are some rules revised in invoices. The SAP abapers are ready to generate new tax invoices like billing document, sales orders and purchase orders. Invoicing forms a crucial function when it comes to the execution of a transaction. The invoice becomes a basic document for recording the sale/purchase in books of accounts. The government has notified rules of invoicing under GST along with a template of invoice(GST INV-01) covering the elements such as supplier’s details, GST tax rates etc that need to be presented. Invoicing in the current tax regime: I nvoicing under Reverse Charge: In case of reverse charge, where supply is received from regi...

Goods and Services Tax (GST) is a proposed system of indirect taxation in India merging most of the existing taxes into single system of taxation. The main expectation from this system is to end all indirect taxes and only GST would be charged. GST is a tax that we need to pay on supply of goods & services. Any person, who is providing or supplying goods and services are liable to charge GST. GST is a consumption based tax/levy. It is based on the “Destination principle.” GST is applied on goods and services at the place where final/actual consumption happens. The GST will cut down the large number of taxes imposed by the Central Government (e.g. Central VAT, Excise duty, Service Tax, Central Sales Tax on inter-state sale, etc) and State (VAT on sales, entertainment tax ,luxury tax, octroi and entry tax charged by municipalities). GST will give credits for all taxes paid earlier in the goods/service chain incentivizing tax paying firms to source inputs from registered ...

The main difference between Service Management and External Service Management is that Service Management provides services to the client while External Service Management is use for the procurement of services only. Every Organization or Company need goods to complete its day today business needs. Besides these goods procurement, an organization may require occasionally some kind of services. These services will include small maintenance task like changing the lights, painting and housekeeping. These services are carried out by external contractors and hence the whole process of procurement of services is known as External service management.  Important features about External service management Services are meant for direct consumption instead of keeping them in inventory. Service description along with unit of measure is stored as master data in a record that is known as service master record. System stores the services that have been procured as a re...

SAP-ABAP supports two types of programs - Report Program and Dialog Program. Module pool program can be called dialog programming. If ABAP program demands user input, Dialog programming is used. Module pool program has different modules which contains different logic for different screen. Any number of screens can be developed by module pool programming. Every screen has a logic which runs at the back end. Module pool program can be executed by Transaction Code only. Difference between Report and Dialog Programs Report Program: A report is a program that typically reads and analyzes data in database tables without changing the database. Dialog Program: A dialog program allows you to work interactively with the system and to change the contents of the database tables. Each dialog program has a certain sequence of screens that are processed by the system one after the other. The Toolset The components of a dialog program are: 1) Transaction code Th...