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Definitions, acronyms, and abbreviations
The India-specific localization solution complies with Indian business practices, regulations, and tax laws, with particular focus on Goods and Services Tax (GST) compliance, Tax Collected at Source (TCS), and Value Added Tax (VAT).
Disclaimers:
- Customer Orders are currently not supported.
- E-invoicing & QR Code printing on receipts are not available.
Click here for more detailed information about the local functionality provided in the Indian version of Business Central.
| To | See |
|---|---|
| Configure tax information on the Store Card (state code, GSTIN, bill number series). | State Code and Location Code |
| Configure terminal-level GST bill number series on the POS Terminal Card. | POS Terminal GST Bill Number Series |
| Enable GST bill number generation and configure the default bill number series source. | GST Setup |
| Set up items for restaurant sales with restaurant-specific GST groups and HSN/SAC codes. | Restaurant and Hospitality GST |
| Understand the GST and TCS fields on POS transaction headers and lines. | POS Transaction Tax Fields |
| View GST, TCS, and VAT ledger entries created by POS transactions. | GST Ledger Inquiry |
| Import the JSON configuration files required to activate tax calculation. | Configuration Files Reference |
| Understand GST fields on Sales, Purchase, and Transfer documents. | Document GST Fields |
| Learn about TDS configuration for POS vendor payments. | TDS |
| Learn how to extend tax components. | How to: Extend Tax Components |
| Learn how to extend use cases. | How to: Extend Use Cases |
Definitions, acronyms, and abbreviations
| Term | Description |
|---|---|
| IN | India - the country where the specific tax laws and regulations apply. |
| GST | Goods and Services Tax - a unified, comprehensive tax levied on goods and services in India. |
| CGST | Central Goods and Services Tax - a component of GST collected by the central government. |
| SGST | State Goods and Services Tax - a component of GST collected by the state government. |
| IGST | Integrated Goods and Services Tax - a component of GST applied to inter-state transactions and collected by the central government. |
| GST CESS | A tax imposed on certain goods and services under GST for specific purposes like compensation to states for revenue loss. |
| TCS | Tax Collected at Source - a tax collected by a seller from the buyer on certain transactions as per the Income Tax Act in India. |
| VAT | Value Added Tax - a tax levied at each stage of the production or distribution process on the value added to goods and services (replaced by GST in India for most cases). |
| HSN/SAC | Harmonized System of Nomenclature (HSN) / Services Accounting Code (SAC) - codes used to classify goods and services under GST. |
| PAN | Permanent Account Number - a unique 10-character alphanumeric identifier issued by the Indian Income Tax Department. |
See also