inoday NetSuite Tax Bundle ensures robust India GST and TDS management. Exclusively orchestrated for businesses witnessing accounting and taxation troubles! Acclaimed NetSuite Implementation Consultants offers GST enablement that can meet Tax compliance and helps ascertain hassle-free GST India management. Here're the features:- • GSTR1_B2B • GSTR1_B2CL • GSTR1_B2CS • GSTR1_CDNR • GSTR1_CDNUR • GSTR3B - Inward Supplies • GSTR3B - Outward Supplies • TDS Challan • TDS Deductee • TDS NRI Deductee

1. inoday
NetSuite TAX
Bundle
GST/TDS
enhancements
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2. GST – Problem statement/Product GAP
1. GST on advance payment.
2. GST on customer payment
3. GSTR 9 & 9C Report
4. Bifurcation of GST input type like ineligible, Eligible,
Common
5. Process of recording and reporting on Blocked credits
6. In case of RCM, self invoicing feature
7. Below formats are not available:-
• Tax Invoice
• Invoice
• E- Invoice
• Advance Receipt
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3. We shall address the key concerns (Scope of
Work) of the stakeholders as below:
# Transactions GST TDS
1 Purchase Order Yes No
2 Vendor Bill Yes Yes
3 Vendor Prepayment Yes Yes
4 Credit Memo Yes No
5 Bill Credit Yes No
6 Customer Invoice Yes No
7 Customer Payment No Yes
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4. GST – Credit Adjustment
Illustrative
Customer
State 2
State 1
Sale Price – Rs. 100
CGST – Rs. 6
SGST – Rs. 6
Sale Price – Rs. 150
IGST – Rs. 18
Sale Price – Rs. 300
CGST – Rs. 18
SGST – Rs. 18
Output
liability
Input tax credit
Liability to be
paid in cash
CGST – Rs. 18
Less – CGST Rs. 6
Less – IGST Rs. 12
Nil
SGST – Rs. 18
Less – SGST Rs. 6
Less – IGST Rs. 6
Rs. 6
Purchase
Sale
ABC Limited
Vendor
Vendor
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5. • GSTR1 CDNUR
• GSTR1 DOCS
• GSTR1 EXEMP
• GSTR1 EXP
• GSTR1 HSN
• GSTR3B
APPLICABLE REPORTS
• GST ANX-1 3C & 3D EXP
• GST ANX-1 3E & 3F
• GST ANX-1 3H RCM
• GST ANX-1 3I IMP
• GST ANX-1 3J
GST/TDS
Reports (4
of 4)
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• GST ANX-1 3K IMPG SEZ
• GST ANX-1 B2B 3B
• GST ANX-1 B2C 3A
• GSTR1 B2B
• GSTR1 B2CL
• GSTR1 B2CS
• GSTR1 CDNR
• ISD Report
• Income Tax Form 26Q
• Income Tax Form 27Q
• Separate Challan Report

6. TDS – Problem statement
At present, latest Netsuite tax bundle for Indian localization
is not able to address many of the TDS related business
requirements
Considering these issues team inoday has developed some
customized solution to address these general business
requirements.
We hope that these solutions are helpful for your business as
well. Looking forward for your feedback on further
improvement.
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7. TDS challenges faced in Netsuite
• TDS on Vendor Bill.
• TDS on Vendor Prepayment
• Preparation of vendor bill with bill uploader (split bill)
• TDS challan creation
• TDS Return/ Reports as per Indian Taxation.
• TDS on Customer receipt
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8. TDS Rules
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9. TDS on Vendor bill
Challenge
Netsuite tax bundle doesn’t allow to book section wise TDS
Liability while raising a vendor Invoice.
inoday Solution
Based on business specific TDS GL mapping with respective
sections.
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10. TDS fields on Bill
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11. TDS on vendor prepayment
Challenge
Netsuite tax bundle doesn’t allow to book section wise TDS
Liability while making a vendor prepayment.
inoday solution
inoday solution helps business to calculate TDS on vendor
prepayments as well and take relevant impact to relevant bill
and reports subsequently
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12. TDS on vendor prepayment
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13. Invoice booking from Vendor prepayment
Challenge
Netsuite tax bundle doesn’t allow to bifurcate between taxed
and non-taxed portion while booking bill against any vendor
prepayment.
inoday Solution
This additional functionality helps business users to upload
vendor bills against those vendor to whom business did some
prepayment in past and also deduct TDS on such prepayment.
Bill uploader functionality splits such invoices in two lines
First line : with out fields required for TDS payments (Against
Advance payment amount )
Another line : with TDS calculation ( remaining amount of the
bill)
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14. TDS challan booking
Challenge
Netsuite tax bundle doesn’t facilitate to book separate challans
for separate sections and vendor type . Also complete process of
selecting/uploading challan entries is manual.
inoday Solution
At the time of Invoice creation, there will be an auto challan
creation based on section code, Vendor type and challan
payment status for a month.
So , it provides Automated Multiple challan creation based on
section code and Vendor type for a month.
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15. TDS challan booking
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16. TDS challan booking
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17. TDS reports for return filing
Challenge
At present standard TDS reports are generated based on nexus
only.
Format of report is also not very useful for return filing and
reconciliation purpose.
inoday Solution
inoday Creates TDS reports for 26Q and 27Q in standard format
for return filing and validation.
It provides reports in excel/ csv format for easy analysis and
reconciliation of same before filing them with Income tax
department.
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18. TDS challan report
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19. Deductee Details Report
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20. NRI Deductee Details Report
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21. TDS on customer receipts
Challenge
Currently Netsuite Tax bundle doesn’t support any TDS
receivable booking option at the time of receipt of payment
from customer.
inoday Solution
inoday provides solution to book TDS receivable at the time of
Receipt of payment from the customer.
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22. TDS on customer receipts
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23. Thanks!
Any questions?
You can find us at:
inoday.com
info@inoday.com
+91 120 432 9327
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