This suiteapp must be shared with Netsuite acc before installing it.
Contact the Netsuite Account Manager and submit a Suitetax enablement request with the help of Netsuite customer report, after shared the suiteapp with the account install the bundle.
Customization > SuiteBundler > Search & Install Bundles
In the keywords field, enter India Localization Suite Tax Engine
Click Search
On the Bundle details page Click Install
Setting up India Tax Information for a Subsidiary
To use the TDS, India GST features administrator must setup the Tax Information and assign tax registrations to a subsidiary
Setup > Company > Classifications > Subsidiary
Click edit next to the subsidiary
Enter values for the calculation of TDS in the following fields:
Click the tax registration subtab to assign the tax registration
To add a tax registration:
In the country field, select India
Select a nexus[1], Tax Agency field is automatically filled in using the saved values in nexus record
In the Tax Reg.Number field enter GSTIN
In the Tax Engine field, select Netsuite India Suite Tax Engine SS2
Enter the Effective period which this nexus is valid Effective from and Value Until fields, if there is no validity for this nexus leave the Value Until field blank.
In the Registration type field, select the subsidiary’s type of GST Registration
- Regular – select this if subsidiary is selected GST and has a GSTIN
- Composite Dealer – select this if subsidiary is registered under composite scheme of GST and has GSTIN
Click Save
[1] Tax region, for example US company has an Indian subsidiary and UK subsidiary these two are the two nexuses of US Company for the taxation process.