Agenda of the Video:
Concept Analysis & Gap Identification between Standard Goods & Services Tax (GST) System and Dynamics ERPs.
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Compare between Sample/Dummy/Testing Code and the Real and Genuine Code based on GST Taxation System in our Country.
✅Conclusion: Here, in the software, No validation has designed to restrict this issue.
✍️In my opinion, at least one warning ⚠️ message needs to show, for awareness of the end user, so that they can relate with the original concept.
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Hint 1: Localization: India.
Hint 2: Video Language: Hindi.
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(1) HSN = Harmonized System of Nomenclature.
This is used to classify "Goods" in multiple categories. We can easily identify any goods' category by using its HSN Code.
HSN Code System has been introduced for the systematic classification of goods all over the world. HSN Code is a 6-digit uniform code that classifies 5000+ products, and is accepted worldwide.
It was developed by the World Customs Organization (WCO), and it came into effect from 1988.
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(2) SAC = Services Accounting Code.
Like, Goods & Services are also classified uniformly for recognition, measurement and taxation.
SAC are those Codes which are used for Services.
For Example; The Main Category of below Service is related with Legal Services.
But the next question is that what kind of Legal Services?
So, Search the Answer based on the Shared Concept.
SAC = 998213, and Description is...
Legal Documentation and Certification Services concerning Patents, Copyrights and other Intellectual Property Rights - 998213
The first two digits are same for all services i.e. 99
The next two digits (82) represent the Major Nature of Service, in this case, Legal Services.
The last two digits (13) represent the Detailed Nature of Service, i.e., "Legal Documentation for Patents" etc.
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Search via any Search Engine or take the help from Govt. Websites for verifying Codes and "HSN/SAC" authenticity....
Available options are as follows;
(i) Code
or,
(ii) Description
HSN Code used in Masters and Documents, like; Item Card, Quote/Order/Invoice, Transfer Order, Item Journal Lines etc.
SAC used in Masters and Documents like; Service Item Card, Services General Leader (G/Ls), Quote, Order, Invoices, Journals, and Vouchers etc.
These Codes will be automatically updated in "GSTR-Reports" via Posted Transactions, Invoices and Voucher Entries.
⬜ In the downloaded Excel Sheet/File use Ctrl+F (find option) to get the Excel Search Box.
Now, Reports;
GSTR = Goods and Services Tax Returns.
You may generate Monthly/Quarterly/Yearly Reports. GSTR-1 for Sales/Outward Supply, GSTR-2 for Purchase/Inward Supply, GSTR-3B Purchases (including RCM Values) and Sales Summary Report etc.
You may download these Reports' Layout with data into Excel.
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Note: Download the Excel Sheet and work offline.
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Short-Blog URL: https://navisionfunctionalexpert.com/
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Hint: You may verify GST Registration Number also following the same way.
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