Taxation
How to Add TDS for previous fiscal year invoice?
In most of case it's possible that sales invoices are made in 31 March or before that and customer has made payment in month of April or letter. In such cases, to show TDS impact in last year for last fiscal year invoices, there is a simple step ...
How you can apply multiple TDS categories while booking purchase invoices.
Book Separate Invoice Line items. Go to Tax Witholding Details section Click on Add row Add the TDS category and change the Tax on the amount accordingly. Click on add row and to add another tds category. If you want to add more TDS categories you ...
Adding Tax Withholding Categories and Ledger Mapping
How to Add Tax withholding category and mapping TDS ledger in Shipmnts. Let us understand this by taking an example: Adding TDS payable ledger on professional fees. Go to Navigation Tab Click on General Ledger Under Set up section > Click on Chart of ...
Setting Up Default TDS Category
How to Set TDS category at supplier and customer master Click on the Navigation tab Go to Network Click on All Companies. Search the Customer/ Supplier Name against which you want to set the TDS category. Go to Active Customer List if you want to set ...
How To Add Tax Withholding Exemption Certificate
Let Us Understand this by taking the example: Suppose Your vendor name is: SQQ INTERNATIONAL LOGISTICS PVT LTD has issued a Tax withholding exemption certificate of limit 50,000, TDS section 194C, Exemption rate: 0.01%, Period : 1Sep 2022 to ...
How to Change Taxable amount while Purchase Invoice Creation.
Let Us Understand this by taking the example: Received Invoice for Travelling expenses from a vendor of Rs.25000 TDS is applicable in the amount of 12000 In the above case, you need to change the Taxable amount manually. Please read carefully below ...
How to Map Fiscal year in Tax withholding categories?
Please follow Below Steps carefully: Go to Navigation Tab. Go to Finance Management > Taxation. Under the section Tax Configuration > click on tax withholding categories. Select Tax Withholding Categories against which you need to map the fiscal ...
Automated GSTR-2B Reconciliation
Note: GSTR-2B Automated Reconciliation is an add on feature, contact your Shipmnts Account Manage or write to us on support@shipmnts.com for a trial. 1. Click on Taxation 2. Click on GSTR-2 Reconciliation Statement 3. Enter the GSTIN and period ...
GST Itemised Report
Handling TDS On Account
How to Pass GST Challan Payment Entry in Shipmnts?
Output IGST CGST SGST Sum Total Amount 68,057.25 290,338.95 290,338.95 Add (+) 6,48,735.15 Input 74,459.23 74,459.23 Less (-) 1,48,918.46 GST RCM 2,175.63 2,175.63 Add (+) 4,351.26 GST Payable 68,057.00 218,055.00 218,055.00 Total 5,04,167 Interest ...