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Release Notes 11.121.0 - 1.121.0

Owned by Staff KB Contributer (Unlicensed)
Last updated: May 20, 2019 by Aparajita Basu Roy
5 min read

Control

Release Date

 16 June 2017

HO Version 11.121.0
POS Version 1.121.0
Web Database Compatibility Version 1.8
Features & Enhancements 04
Bug Fixes 00
Navigation

GST Tutorial Video

Features & Enhancements

Serial

Description
1

Slab wise GST rates in HSN/SAC Master

Module:

GINESYS Web - Inventory - Product Definition - Tax Definition - HSN/SAC master

Enhancement Summary:

For certain ‘Goods’, government has introduced slabs. For example, for footwear category, goods below ₹500 RSP (Retail Sale Price) is having different tax from that of goods having higher RSP. To incorporate the same, we have introduced slabs in HSN/SAC Master.

For every effective date wise GST rates definition under any HSN code, we have provided an option to select whether effective from the date selected, has the Government introduced slab wise GST rates. You shall mark ‘Slab Applicable’ to ‘Yes’ in order to input the slabs.

Once done, you will have to input GST rates slab wise, i.e., by providing the ‘amount from’ and then the GST rates. Also, you will have to select whether the ‘amount from’ specified is applicable as per RSP or Net Price/Transaction Value per piece. As per the current notifications by the Government, for Footwear, the slabs are applicable as per ‘RSP’ and for Apparels, the slabs are applicable as per ‘Net Price’. The below examples should clear how the GST rate pickup shall be done.

Footwear Slabs

Definition: Applicable as per ‘RSP’.

Amount from

GST Rates

0.00

GST 5%

500.01

GST 18%

Example: Item A, RSP 800.00


Basic Amount (RSP)

EXCLUSIVE Billing

(WHOLESALE)

INCLUSIVE BILLING

(RETAIL SALE)

800.00

800.00

Promotions / Discount %

50%

10%

Gross Amount

400.00

720.00

Tax % Eligible (as per RSP)

18%

18%

Tax Amount

72.00

109.80

Net Amount

472.00

720.00

Apparels Slabs

Definition: Applicable as per ‘Net Price’.

Amount from

GST Rates

0.00

GST 5%

1000.01

GST 12%

Example: Item A, RSP 1200.00


Basic Amount (RSP)

EXCLUSIVE Billing

(WHOLESALE)

INCLUSIVE BILLING

(RETAIL SALE)

1200.00

1200.00

Promotions / Discount %

50%

10%

Gross Amount

600.00

1080.00

Tax % Eligible (as per Net Price)

5%

12%

Tax Amount

30.00

115.71

Net Amount

630.00

1080.00

2

Term Configuration for Procurement / Sales & Distribution transactions

Module:

Ginesys Web - Procurement - Setup - Invoice Overheads - Charges
Ginesys Web - Procurement - Setup - Invoice Overheads - Terms|
Ginesys Web - Sales & Distribution - Setup - Invoice Overheads - Charges
Ginesys Web - Sales & Distribution - Setup - Invoice Overheads - Terms

Enhancement Summary:

GST component wise charges needs to be configured. GST charges shall be system charges and we have already released eight charges (including reverse charges) for procurement and four charges for sales & distribution processes.

You need to use these charges in order to create new GST terms (recommended for smooth roll-out) or edit existing terms to include GST charges (not recommended). We are not recommending to modify existing terms as you might have to create back-dated entries which might require old terms, so its advised to create new terms.

Since we shall release the GST related charges with the patch, you need to just create terms for calculation. Below are the details for terms which needs to be created in order to proceed with GST calculation for normal B2B purchase and sale.

Transaction Type

Trade Type

Example / Sample Term

Purchase from registered party, or

Sale to registered/unregistered party

Local

- Discount (B)
+ Extra Charges (B+1)
+ Central GST (B+1+2)
+ State GST (B+1+2)
+ Compensation Cess (B+1+2)

Purchase from registered party, or

Sale to registered/unregistered party

Inter-state

- Discount (B)
+ Extra Charges (B+1)
+ Integrated GST (B+1+2)
+ Compensation Cess (B+1+2)

Purchase from unregistered party

Local

- Discount (B)
+ Extra Charges (B+1)
+ Central GST (B+1+2)
+ State GST (B+1+2)
+ Compensation Cess (B+1+2)
- Reverse Central GST (B+1+2)
- Reverse State GST (B+1+2)
- Reverse Compensation Cess (B+1+2)

Purchase from unregistered party

Inter-state

- Discount (B)
+ Extra Charges (B+1)
+ Integrated GST (B+1+2)
+ Compensation Cess GST (B+1+2)
- Reverse Integrated GST (B+1+2)
- Reverse Compensation Cess (B+1+2)

Sample Terms has been released

Few basic sample terms has been released. Please follow the same in order to create new ones or you can even use the sample terms in your transactions.


For transfers to owned stores or warehouses, you need not create any term as we shall automatically include charges as per applicability.

For Inter-state : We shall include IGST + CESS automatically.
For Local :

      • Same GSTIN - Nothing will get included.
      • Different GSTIN - CGST + SGST + CESS will be included automatically.
3

GST ledger Configuration

Ledgers
  • Total GST ledgers : 8
    • 4 Input Ledgers (component wise)
    • 4 Output Ledgers (component wise)
  • Group : Liability (ideally should be a new group GST Liability)
  • Should be Sub-ledger Applicable.
  • Recommendation : Should be Site Applicable.
  • Sample:
    • IGST Input Ledger
    • IGST Output Ledger
Sub-Ledgers
  • Create State wise Sub-ledgers for each component.
  • Presence in 1 state = 8 sub-ledgers.
    • 4 Input sub-ledgers (component wise)
    • 4 output sub-ledgers (component wise)
  • Sample:
    • WB IGST Input Sub-ledger
    • WB IGST Output Sub-ledger
Sample Accounting Entries on various transactions

Transaction Type

Sample Accounting Entries

Purchase (registered)

Purchase A/c Dr.                                 GRSAMT
Positive Charges A/C Dr.                    CHGAMT        
CGST Input A/c Dr.                              CHGAMT
SGST Input A/c Dr.                              CHGAMT
To Negative Charges A/c                                 CHGAMT
To Party A/c                                                       NETAMT

Purchase Return (registered)

Party A/c Dr.                                        NETAMT
Negative Charges A/C Dr.                  CHGAMT        
To CGST Input A/c Dr.                                       CHGAMT
To SGST Input A/c Dr.                                        CHGAMT
To Positive Charges A/c                                     CHGAMT
To Purchase Return A/c                                    NETAMT

Purchase (unregistered)

Purchase A/c Dr.                                  GRSAMT
Positive Charges A/C Dr.                     CHGAMT
CGST Input A/c Dr.                               CHGAMT
SGST Input A/c Dr.                               CHGAMT
To Negative Charges A/c                                      CHGAMT
To CGST Output A/c                                             CHGAMT
To SGST Output A/c                                             CHGAMT
To Party A/c                                                           NETAMT

Purchase Return (unregistered)

Party A/c Dr.                                NETAMT
Negative Charges A/C Dr.          CHGAMT
CGST Output A/c                        CHGAMT
SGST Output A/c                        CHGAMT
To CGST Input A/c Dr.                                       CHGAMT
To SGST Input A/c Dr.                                       CHGAMT
To Positive Charges A/c                                    CHGAMT
To Purchase Return A/c                                    NETAMT

Service Invoice (with Input Eligibility)

Service A/c Dr.                              SRVAMT
Positive Charges A/C Dr.              CHGAMT       
CGST Input A/c Dr.                       CHGAMT
SGST Input A/c Dr.                       CHGAMT
To Negative Charges A/c                               CHGAMT
To Party A/c                                                    NETAMT

Service Invoice (without Input Eligibility)

Service A/c Dr.                               SRVAMT+CHGAMT
Positive Charges A/C Dr.               CHGAMT        
To Negative Charges A/c                               CHGAMT
To Party A/c                                                     NETAMT

Sales Invoice

Party A/c Dr.                                 NETAMT
Negative Charges A/C Dr.            CHGAMT        
To CGST Output A/c Dr.                                       CHGAMT
To SGST Output A/c Dr.                                       CHGAMT
To Positive Charges A/c                                       CHGAMT
To Sales  A/c                                                         NETAMT

Sales Return

Sales Return A/c Dr.                    GRSAMT
Positive Charges A/C Dr.             CHGAMT       
CGST Output A/c Dr.                   CHGAMT
SGST Output A/c Dr.                   CHGAMT
To Negative Charges A/c                                CHGAMT
To Party A/c                                                     NETAMT

Transfer Out (to unmanaged site)

Transfer In (Party) A/C Dr.           GRSAMT
To Transfer Out (Owned)  A/C                          NETAMT

Transfer In (against unmanaged site)

Transfer In (Owned) A/C Dr.        GRSAMT
To Transfer Out (Party) A/C                               NETAMT

Transfer Out (to managed or organization site)

Transit A/C Dr.                              NETAMT
To Transfer Out A/C                                            GRSAMT
To IGST Output A/C                                            CHGAMT
To CESS Output A/C                                          CHGAMT

Transfer In (Against managed or organization site)

Transfer In A/c Dr.                        GRSAMT
IGST Input A/c Dr.                        CHGAMT
CESS Input A/c Dr.                       CHGAMT
To Transit A/c                                              GRSAMT+CHGAMT

4

Transaction Changes

Procurement
  • Pricing: Same as before no change has been done.
  • Margin Rule: System shall automatically start considering GST if "Net of Tax" is selected in Margin rule. Note: GST shall be considered only as per the effective date provided in the HSN master of the Item. Till then, we shall automatically consider VAT.
  • Charge Calculation:
    • Pre-requisite -
      • GSTIN should be tagged to the organization site from where you are doing transaction.
      • HSN/SAC should be tagged to the items or services.
    • Calculation - System shall automatically pick up GST rates and post in respective ledgers component wise.
Sales & Distribution
  • Pricing: System shall automatically start considering GST in discount if "include Tax in Discount" is set to 'yes' for the price list. Note: GST shall be considered only as per the effective date provided in the HSN master of the Item. Till then, we shall automatically consider VAT in discount.
  • Charge Calculation:
    • Pre-requisite -
      • GSTIN should be tagged to the organization site from where you are doing transaction.
      • HSN/SAC should be tagged to the items or services.
    • Calculation - System shall automatically pick up GST rates and post in respective ledgers component wise.

Transit Difference Ledger Accounting Impact Removed

We shall not be doing transit difference ledger posting since you need to reconcile the output tax libility with the input at the receiving end. However, we shall be passing stock adjustment entry autoamtically as done earlier.

Point of Sale Bill
  • Pre-requisite -
    • GSTIN should be tagged to the organization site from where you are doing transaction.
    • HSN/SAC should be tagged to the items or services.
  • Calculation - System shall automatically start considering GST as per the effective date. Note: GST shall be considered only as per the effective date provided in the HSN master of the Item. Till then, we shall automatically consider VAT for tax calculation purpose.