Goods and Services Tax - the upcoming revolutionary tax reform will bring unparalleled changes across all industries. As a market leader in enterprise applications - SAP is ready to empower businesses with customized industry specific solutions ensuring a smooth GST implementation. Retail /E-com /FMCG  GST is expected to benefit the Retail and FMCG sectors due to the efficiency released from supply chain consolidation. Transportation / Warehousing / Logistics  GST will bring in consolidation of storage and redistribution of transportation volumes. Discrete Manufacturing / Auto GST will enable strategic inventory placement, achieving higher customer SLAs Professional Services GST is expected to lead to increased taxation on services sector, leading to services becoming more expensive. Chemicals and Pharma  These sectors are likely to gain immensely from the supply chain efficiencies that will be enabled by GST. M...

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 – https://jam4.sapjam.com/groups/zSb4pcqj7KwVE2vDu3HFLV/content?folder_id=T6F5GbeIJsnV4E2glGOVPx To get access to this SAP Jam group, please send a request to indiagst@sap.com . Do not request via the comment function in this blog and do not publish any private information (like email addresses and S-User information). The note contains information based on the Model GST law currently available in public domain. The information offered is subject to change without prior notice due to factors outside/beyond the control of SAP. This version of the note contains a soft switch which customers need to modify in order to test in their systems (refer to SAP Note ...

Need for TAXINN TAXINN procedure is the prerequisite for GST implementation. Hence, companies using TAXINJ tax procedure need to migrate to TAXINN tax procedure and then GST has to be implemented. While TAXINJ is formula based, TAXINN is condition based. A standard routine (set of specific standard coding) is used in the formula based TAXINJ tax procedure for tax calculation purposes. Whereas, conditions are used in the TAXINN tax procedure.   Migration from TAXINJ to TAXINN The migration from TAXINJ to TAXINN includes: Preparation on affected scenarios mostly in Sales and purchase, required system configurations, methodical testing, changes in master data, correcting ABAP objects, and conversion of open purchase related documents. In SD all pricing procedure rate determination should also be converted to access sequence levels, from current set up, which is working based on tax codes (VAT, CST, Service Tax). SAP has also given a specific tool to convert the op...

GST Implementation is around the corner and companies waiting for the government’s final decision on GST rollout. These centres will engage with micro, small and medium enterprises (MSMEs) and showcase SAPs solution portfolio for GST. SAVIC Technologies have built a SAVIC GST solution centre to help our customers adopt technical and functional changes of GST. Our SMEs can help you understand the key areas of impact to your business model and prepare different scenarios for the design and application of GST. GST Solution Providers in India are helping businesses to get ready with GST implementation. SAP has one of the best GST Software Solution in India which is reliable, scalable and secure. A pre-packaged solution with fixed timeline that ensures organization to be prepared well in advance for transition to a GST compliant system. Analyze the simplicity of GST Starter Pack for seamless transition. GST Solutio...

Enterprise application software maker SAP is setting up 30 centres across 13 Indian cities to help small and medium businesses to become compliant with GST. SAVIC Technologies have built a SAVIC GST solution centre to help our customers adopt technical and functional changes of GST. Our SMEs can help you understand the key areas of impact to your business model and prepare different scenarios for the design and application of GST. Enterprise application software maker SAP is setting up 30 centres across 13 Indian cities to help small and medium businesses to become compliant with GST. "With the implementation deadline of July 1 for GST law fast approaching, we wanted to ensure fast-track readiness for MSMEs," SAP India Head Strategic Solutions Neeraj Athalye said. These centres will engage with micro, small and medium enterprises (MSMEs) and showcase SAP's solution portfolio for GST, he added.      

The Goods and Services Tax (GST) Council has decided rates for around 1,150 items out of the total of 1,211, Finance Minister Arun Jaitley said on Thursday. The rates for remaining goods will be discussed and finalised on Friday, he said. Here’s a breakup of the goods falling under various tax slabs... 43 percent items are under the 18 percent tax rate.19 percent fall under the 28 percent tax rate.17 percent are in the 12 percent tax bracket.14 percent items fall under the 5 percent tax rate.7 percent items are on the exemption list.  Sugar, tea, coffee, sweets and edible oil will fall under the 5 percent tax bracket, said Hasmukh Adhia, revenue secretary, Ministry of Finance. Coal will also be taxed at 5 percent as opposed to the current incidence of around 10 percent. Goods such as hair oil, toothpaste and soaps will fall in the 18 percent category. All capital goods and industrial intermediates will also fall in the 18 percent bracket and this will help bring down inflat...

Focused mainly on fitment of goods under slabs, discussed and approved: 7 GST rules while legal committee is looking at remaining 2 (Return & Transition) Rules.  Tariffs for about 1211 items was finalised 81% of the items will fall up to 18% rate slabs. Only 19% of the goods above 18%. Common man items have gone into 12% & 18% slab.  Indians sweets or mithai will fall under 5% slab. Coal to be taxed at 5% against 11.69% currently. All raw food items, including food grains to be exempt. Processed food of daily needs to be in the 5% slab.  Sugar, Tea, Coffee (except Instant) and edible oil to fall under 5% slab, while cereals, milk to be part of exempt list under GST. Tooth paste, hair oil will be taxed at 18% against 28% currently.  In a big boost to industry, Council has set the rate for capital good, industrial intermediate items at 18% Note:GST Council will meet again tomorrow and discuss the rate slab for important goods like gold, bee...