Goods and Services Tax (GST) is a major Indirect Tax Reform currently in the process of being implemented. It is planned to be launched in India on July 1st, 2017. Information on the Model GST Law is available and further details can be found here.
As India gears up for next generation Indirect Tax Law, SAP is working on enhancing SAP Business One to cater for the GST legal requirements.
As a partner or a customer of SAP Business One using the India localization, you will need to use Version 9.2 PL07 or higher to avail of the GST functionality.
"Master Data will expand to include GST information in the following areas in SAP Business One Version 9.2 Patch Level 07:
The following functionality is planned to be released at a later stage in SAP Business One Version 9.2 Patch Level 08, to allow for and to include information about GST:
(Check SAP Note 2194689 for the content above in italics to stay updated with GST in SAP Business One)
Please note:
On this Jam Page, Partners can access documentation as well as provide feedback on the functionality and any scenarios already under discussion for GST. You will see the following:
3. Stay Updated: With SAP Note 2194689, you are kept updated on the new GST functionality. This note will be updated on a regular basis. It is recommended you mark it as a Favorite under the Notes section of the SAP Business One Launchpad.
In the attachment of SAP Note 2194689, you can find the GST – How to Guide
4: Share with Customers: Before going live with GST for India, it is recommended that Partners familiarize themselves with the GST functionality and share their knowledge with their customers.
For more information on GST and queries regarding the solution, you can also get in touch with your Local Product Expert (LPE).
I hope this article helps you and your customers prepare for GST!
Source:https://www.linkedin.com/pulse/support-spotlight-goods-services-tax-gst-india-only-jitin-chawla/