GST is LIVE on your ADDA!

by Krishanu

As India prepares for this revolutionary change in tax system, your ADDA is now ready with relevant changes with regards to GST on apartments.

All the service tax settings where ever applicable have been moved to GST effective from today, July 1st, 2017. All tax calculations will be done as per GST, automatically by the system!

There are a few setting changes that you need to do on ADDA. They are as below:

1.Income Tracker Changes for GST on Apartments :

Please enter your Society/Association/ RWA’s GSTIN registration number as shown below, post which, the GSTIN number will reflect on all the invoices posted on or after 1st July 2017 as invoice date.

Please refer the below path to update the GSTIN Registration number.

Go to Income Tracker–>>Setup–>>Customize Bills–>>update the GSTIN registration number under header.(please refer the below screenshot)

income tracker setting for GST

2. Expense Tracker:

Do the Expense Tracker Changes for GST on apartments as below:

You can update/add  all Vendors GSTIN number from Expense tracker in vendor master or by adding new vendor.

Please refer the below path to update the GSTIN Registration number.

Go to Expense Tracker–>>By Vendor–>>Sub ledgers–>>for updating (existing vendor) Click on name of vendor–>>enter GSTIN Number and defined rate for him. (please refer the below screenshot)

Vendor master setting for GST

Please note that the guidelines towards applicability of GST towards housing societies are being interpreted differently by many auditors, CAs. Therefore, for any doubts or queries on GST, we would recommend you to consult your auditor.

ADDA - Schedule Free Demo

Click here to refer to our blog posts on GST. 

You may also like