This is in response to the post titled in the subject line… I can concur with Amish’s setup for GST India, but with a few minor observations.
I have a similar setup, though not as elaborate as Amish’s. This is largely due to the fact that I don’t claim GST input tax credit for purchases (my tax credits are negligible compared to what I pay as GST). Also, I have to deal with only 1 tax rate of 18%, but that does involve setting up of 3 tax tables like Amish pointed out - CGST @ 9%, SGST @ 9% and IGST @ 18%. My few observations - a. Not sure if you need 2 A/R accounts. Since these accounts are not directly used in reports, just having one should do (sub-accounts for GST and NonGST can be merged into the parent). b. You may find it more helpful by actually putting the tax rate in the tax account name itself. For instance, "Liabilities:Sales:GST:IGST @ 18%” as the account name, instead of "Liabilities:Sales:GST:IGST”. While this will not make a difference if you are using Tax Invoice report, it will show up nicely in case of a Printable Report or Fancy Invoice report because the tax line will read IGST @ 18% (instead of just IGST). c. I haven’t segregated the NonGST vs. GST (registered vs. unregistered dealers), though I can see the benefit given GST reporting requirements. However, I think with the new transaction report that was posted on this list sometime back (by Doug, I think), one can easily generate summaries based on descriptions in the transaction registers. So if you are diligent about tagging your transactions with proper notes/memos, etc. then you can always generate summaries based on those with the new transaction report to meet the GST reporting requirements. I think if you are dealing with large volumes of GST related transactions, Amish’s setup is the way to go, though it may seem a bit tedious to set it up in the beginning. My GST invoices are to the tune of about 100 invoices a year, so I have cut down on my account hierarchy to keep it simple. And yes, it can certainly go on the wiki for those looking for help. I wish I had something like that to guide me when I was doing the same, but with trial and error, I got to what I wanted. I am sure all of us continue to remain indebted to GnuCash to help keep our financial matters in order despite the chaotic rollout of GST that India witnessed not so long ago. Cheers, Deva ------------------------------ From: Liz <ed...@billiau.net<mailto:ed...@billiau.net>> To: gnucash-user@gnucash.org<mailto:gnucash-user@gnucash.org> Subject: Re: Instructions for GST India Message-ID: <20180205205957.0c294...@billiau.net<mailto:20180205205957.0c294...@billiau.net>> Content-Type: text/plain; charset=UTF-8 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.am...@gmail.com<mailto:anon.am...@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. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
