India Localization SuiteTax Engine SuiteApp version 8.00.0 includes the following new features and enhancements:
Support for Exchange Rate During TCS Calculation
You can now calculate TCS on a transaction in which exchange rate applies. The SuiteApp updates the accumulated tax bucket values in the base currency of a subsidiary or company and calculates TCS accordingly on transactions.
Modification of TDS Tax Fields Restricted for Vendor Bills
To prevent incorrect tax calculation, you cannot save a bill or preview tax on a bill if you edit tax fields that impact TDS calculation. To modify the TDS tax related fields in a bill, void the transaction, and then create a bill with the required changes in tax fields.
Ability to Create Time Tracking Record Using the Employee Center Role
You can now create a time tracking record using the Employee Center role.
India Tax HSN or SAC Code Automatically Populated for Items Imported Through CSV File
The SuiteApp now automatically populates India tax HSN or SAC codes for items imported through CSV file.
India Localization SuiteTax Reports Enhancements
India Localization SuiteTax Reports SuiteApp version 5.00.0 includes the following saved searches to display transactions applicable to table 4 and table 5 of the GSTR-9 report.
India GSTR9 Exempted
India GSTR9 Nil Rated
India GSTR9 Non-GST Supply
India GSTR9 Table 4 Credit Notes
India GSTR9 Table 4 Inward Reverse Charge
India GSTR9 Table 4 Outward B2B
India GSTR9 Table 4 Outward Export
India GSTR9 Table 4 Outward SEZ
India GSTR9 Table 4 Outward B2C