Does IFS Cloud supports Indian tax procedures?

Ramesh,

For 23R1, the following features have been planned as phase 1 to satisfy Indian requirements with more to follow in 23R2;

1. HSN/SAC Codes and Intra/Inter State Tax Rates Fetching

• Enables fetching of tax rates on customer and purchase orders as well as on invoices, based on HSN/SAC codes on materials or services (excluding intra/inter state transactions), complying with the GST legislation.

2. Additional Tax Numbers in Customer/Supplier level

• Enables to define multiple Tax ID Numbers in Customer and Supplier level

3. Printing of Invoice in Base Currency for Customer Orders in Foreign Currency

• Enables printing of customer invoice with new recalculated amounts in base currency when the customer order is in foreign currency. New base amounts will be calculated from net price in local currency.

4. Number of Decimals in Withheld Tax Amount

• Enables to define number of decimals in Withheld Tax Amount, in Supplier Invoice.

5. eInvoice

• India eInvoice – Phase 1 eInvoicing for India

Regards,

Antony