India Localization SuiteTax Engine

Overview

The India Localization SuiteTax Engine SuiteApp provides localization features for businesses in India. The SuiteApp lets you manage and calculate transactions so you’re compliant with accounting and tax requirements. It was developed using the India SuiteTax Engine plug-in.

The SuiteApp provides the following features for India businesses:

• Goods and Services Tax – Use this feature to calculate GST on purchase and sales transactions. Generate automatic journals for export transactions.

• Tax Deduction at Source – Use this feature to calculate TDS on vendor bills and create TDS challan vouchers. Verify calculated TDS amounts against accurate deductions to ensure accuracy and compliance.

• Tax Collection at Source – Use this feature to calculate TCS on items specified in Section 206C of the Income Tax Act.

• Electronic Invoicing for India – Use this feature to generate, certify, and send electronic invoices.

• E-Way Bill for India – Use this feature to generate and manage GST compliant E-Way bills for goods.

• Creating Statutory Adjustment Journals – Use this feature to create adjustment journals for statutory compliance.

• Sending Customized Notifications – Use this feature to set up automated, customized email notifications for GST tax rate rules and LUT bond details. Use predefined criteria and configurable scenarios to trigger notifications.

• Localization Assistant SuiteApp – Use this feature to manage localization components through the Localization Assistant SuiteApp.

• Generating Invoices with QR Codes for India – Use this feature to generate invoices with QR codes for B2C customers.

Before you start using the India Localization SuiteApp, note its limitations and best practices.

• India Localization SuiteTax Engine Limitations

• India Localization SuiteTax Engine Best Practices

For further assistance or detailed setup instructions, see the relevant help topics or contact your NetSuite account manager.