Instructions for GST India

[Liz]

Are there any other Indian users of GST who wish to comment, because
this needs copying into the wiki if it is "ready to use".
Liz


On Mon, 5 Feb 2018 11:22:40 +0530
Amish <anon.amish at gmail.com> wrote:

> On Sunday 04 February 2018 09:29 PM, TBUA wrote:
> > hello there,
> >
> > Have you figured out a work around for this? Would really like some
> > help with this !  
> 
> Hello
> 
> This is how I have done it.
> 
> It looks complicated at first but works perfectly for me for getting 
> data for GSTR1/2/3B
> 
> Just giving rough idea.
> 
> You need to know how to use tax tables in Gnucash and assign them to 
> right accounts.
> You also need to learn how to generate reports in Gnucash using right 
> accounts.
> 
> Note: Colon indicates/separates subaccounts
> 
> Stage 1: (Account creation)
> ------------
> 
> 1) Create these income accounts
> 
> Income:Sales:GST (sales to all GST registered dealers)
> Income:Sales:NonGST (sales to all unregistered dealers)
> Income:Sales:Roundoff (any roundoff in bill goes here)
> 
> 2) Create these expense accounts
> 
> Expense:Purchase
> 
> My purchase is always from GST registered dealers so I have not
> created GST/NonGST subaccounts.
> You may create 2 sub accounts for GST and NonGST dealers.
> 
> 3) Create these Asset (GST Tax paid on purchase) accounts
> 
> Assets:GST-Purchase:CGST
> Assets:GST-Purchase:IGST
> Assets:GST-Purchase:SGST
> 
> Again you may create NonGST purchase accounts if you want.
> 
> 4) Create these Liabilities (GST tax to be paid to government for
> sales) accounts
> 
> Liabilities:Sales:GST:CGST
> Liabilities:Sales:GST:IGST
> Liabilities:Sales:GST:SGST
> Liabilities:Sales:NonGST:CGST
> Liabilities:Sales:NonGST:IGST
> Liabilities:Sales:NonGST:SGST
> 
> 5) Create these receivables (GST sales - including tax) accounts
> 
> Assets:Trade Receivables:GST
> Assets:Trade Receivables:NonGST
> 
> 6) Create these payables (GST purchase payments to be made) accounts
> 
> Liabilities:Trade Payables
> 
> Again my purchase is always from GST registered dealers so I have not 
> created subaccounts.
> 
> 
> Stage 2: (Tax tables)
> -----------
> 
> Now that all accounts are set. Here are the tax tables that I have
> created.
> 
> In my case taxes are either 5% (IGST), 12% (IGST), 2.5%+2.5% 
> (CGST+SGST), 6%+6% (CGST+SGST)
> 
> Such tax structure exists for both sale and purchase. So we need to 
> create many tax tables.
> 
> I have created them like this:
> 
> 1)
> Tax table name that I have given = GST-Sale-5
> Tax table entries:
> Liabilities:Sales:GST:CGST = tax percentage 2.5%
> Liabilities:Sales:GST:SGST = tax percentage 2.5%
> 
> This is for any intra-state sales where tax charged is 5%
> 
> 2)
> Tax table name that I have given = GST-Sale-12
> Tax table entries:
> Liabilities:Sales:GST:CGST = tax percentage 6%
> Liabilities:Sales:GST:SGST = tax percentage 6%
> 
> This is for any intra-state sales where tax charged is 12%
> 
> 3)
> Tax table name that I have given = IGST-Sale-5
> Tax table entries:
> Liabilities:Sales:GST:IGST = tax percentage 5%
> 
> This is for any inter-state sales where tax charged is 5%
> 
> 4)
> Tax table name that I have given = IGST-Sale-12
> Tax table entries:
> Liabilities:Sales:GST:IGST = tax percentage 12%
> 
> This is for any inter-state sales where tax charged is 12%
> 
> 5)
> Tax table name that I have given = NonGST-Sale-5
> Tax table entries:
> Liabilities:Sales:NonGST:CGST = tax percentage 2.5%
> Liabilities:Sales:NonGST:SGST = tax percentage 2.5%
> 
> This is for any intra-state sales to unregistered dealers where tax 
> charged is 5%
> 
> 6)
> Tax table name that I have given = NonGST-Sale-12
> Tax table entries:
> Liabilities:Sales:NonGST:CGST = tax percentage 6%
> Liabilities:Sales:NonGST:SGST = tax percentage 6%
> 
> This is for any intra-state sales to unregistered dealers where tax 
> charged is 12%
> 
> 7)
> Tax table name that I have given = NonIGST-Sale-5
> Tax table entries:
> Liabilities:Sales:NonGST:IGST = tax percentage 5%
> 
> This is for any inter-state sales to unregistered dealers where tax 
> charged is 5%
> 
> 8)
> Tax table name that I have given = NonIGST-Sale-12
> Tax table entries:
> Liabilities:Sales:NonGST:IGST = tax percentage 12%
> 
> This is for any inter-state sales to unregistered dealers where tax 
> charged is 12%
> 
> 9)
> Tax table name that I have given = GST-Purchase-5
> Tax table entries:
> Assets:GST-Purchase:CGST = tax percentage 2.5%
> Assets:GST-Purchase:SGST = tax percentage 2.5%
> 
> This is for any intra-state purchase from GST registered dealers
> where tax charged is 5%
> 
> 10)
> Tax table name that I have given = GST-Purchase-12
> Tax table entries:
> Assets:GST-Purchase:CGST = tax percentage 6%
> Assets:GST-Purchase:SGST = tax percentage 6%
> 
> This is for any intra-state purchase from GST registered dealers
> where tax charged is 12%
> 
> 11)
> Tax table name that I have given = IGST-Purchase-5
> Tax table entries:
> Assets:GST-Purchase:IGST = tax percentage 5%
> 
> This is for any inter-state purchase from GST registered dealers
> where tax charged is 5%
> 
> 12)
> Tax table name that I have given = IGST-Purchase-12
> Tax table entries:
> Assets:GST-Purchase:IGST = tax percentage 12%
> 
> This is for any inter-state purchase from GST registered dealers
> where tax charged is 12%
> 
> Once again since I dont purchase from unregistered dealers - I have
> not created tax tables for such cases. You may create them.
> 
> 
> Stage 3: (Data Entry - Invoice and Bill)
> ------------
> 
> So we are now almost done.
> 
> Above looks tedious but its just one time thing. Once done then 
> everything becomes very easy.
> 
> Now the actual usage of these accounts and tables:
> 
> Whenever you create Invoice / Bill - based on customer / vendor
> select the right Income / expense account (from stage 1) and right
> Tax table (from stage 2).
> 
> And when you post invoice / bill - select the right Asset / Liability 
> account (again from stage 1)
> 
> i.e. GST or NonGST accounts based on type of customer / vendor and
> GST / IGST / NonGST tax table based on customer/vendor and the tax
> percentage.
> 
> 
> Stage 4: (Report Generation)
> -----------
> 
> For report generation - you can use transaction report and customize
> it as per your requirement.
> 
> Save the customized report so that you do not need to customize it
> every time.
> 
> I have created 4 types of customized transaction report
> 
> 1) GST-Sale-Tax Report
> start date - start of previous month (or quarter)
> end date - end of previous month (or quarter)
> Primary key - Account name
> Secondary key - Date
> Seconday subtotal -  None
> Accounts selected - Liabilities:Sales (and all subaccounts)
> Account filtered by - Income:Sales (and all subaccounts)
> Filter type - Include transaction to/from filter accounts
> 
> This will give you previous months tax details (for sales) useful for 
> GSTR3B return
> 
> Similarly you can create reports for GST-Sale-Total,
> GST-Purchase-Tax, GST-Purchase-Total.
> 
> You need to tinker a bit here and there (mostly by selecting the
> right accounts)
> 
> And then save all reports and you are all set for GST India!
> (GSTR1/2/3B)
> 
> 
> Stage 5: (Set off)
> -----------
> 
> Once you file GSTR3B return - do same set off (as you did in GSRT3B) 
> from Tax Assets / Liabilities accounts created in stage 1.
> 
> 
> Overall just be careful while data entry at stage 3 and stage 5 and 
> everything should be perfect and ready.
> 
> So thats all, hope it was useful.
> 
> Regards,
> 
> Amish.
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