Connect with Magento 2 Indian GST Extension- CedCommerce

Connect with Magento 2 Indian GST Extension

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The goods and service tax came into effect from July 1, 2017; the tax replaced existing multiple cascading taxes levied by the central and state governments. GST is one of the biggest tax reforms in India and is set to revolutionize the way we do our taxes. Magento 2 Indian GST Extension facilitates applying suitable Indian GST rates on products belonging to different tax slabs. Upon calculation of the tax appropriately the GST extension displays the tax amount on the front end. GST is applied on the product basis and globally.

An online e-commerce business has become one of the highly targeted business. With more people showing interest in online shopping this business is not going to see an end any soon.

In past few years, we have seen a boom in the eCommerce business. A large range of customers now prefers to shop online as it serves them a better option. Observing the profit in this business many new startups have started coming up with an eCommerce website , thanks to smartphones and internet connectivity. As per the earlier tax laws, there was no clear treatment of online sales. GST has proper rules in place for e-commerce portals like Amazon, flipkart and its sellers.

GST is going to be a game changer for most industries and especially for eCommerce – “Ashish Goel CEO Urban Ladder”

Earlier, there was no uniformity in the tax rates among the different states and therefore every state has their own tax rates specific to the products.GST is now a single tax on the supply of goods and services, right from the manufacturer to the consumer. Now the tax structure will be the same across the country & this will bring about a sense of ease in doing eCommerce business.

GST is a destination based tax, i.e., the goods/services will be taxed at the place where they are used and not at the origin. So, the state where they are consumed will have the right to collect GST.

Magento 2 Indian GST Extension

Since the tax system for India has been changed, it has become an area of concern for e-Commerce businesses to search for the right software solution that can help them to implement GST in their business.

To cope up with this problem and to assist magento store owners in implementing the GST, CedCommerce has come up with an ultimate solution for Magento2 in the form of Magento 2 Indian GST Extension. This will incorporate the latest tax rules under the GST scheme and make your Magento store GST ready.

Magento 2 Indian GST Extension provides the functionality to apply the appropriate Indian Goods and Services Tax (GST) rates on the products those belong to different tax slabs. It calculates the tax accordingly and displays the tax amounts on the front end view. GST is applied to the product basis and globally.

How to Implement the Indian GST magento 2 extension? How CedCommerce can help you ?

After successful installation of our Magneto 2 Indian GST extension first admin has to set up the configuration settings to enable the features of the extension.

On the left navigation bar, click the STORES menu, and then click Configuration. The Configuration Settings page appears.

In the right panel, under Indian GST, do the following steps:

- - In the Enable GST list, select Yes.
  - In the GSTIN box, enter the GSTIN value.
  - In the Warehouse list, select the required region.
  - Click the Save Config button.

Install Tax Classes

As per the government norms, GST is applied in a different manner to intra-state and inter-state sales. GST levied on the intra-State sales by the Centre is known as Central GST (CGST) and that by the States is known as State GST (SGST). Whereas for inter-state sales, only IGST (Integrated GST) is applied which is directly paid to the Central Government.

So after installing the Indian GST Magento2 extension, appropriate tax classes, rules, and rates will automatically be added to your Magento2 backend. These tax classes are in accordance with the latest format of GST and will be used to determine the suitable tax rates for different products. In short, you will be spared the need to worry about the new tax schemes being brought about by GST.

Set Shipping Settings

- - 1. On the left navigation bar, click the STORES menu, and then click Configuration. The Configuration Settings page appears.
    2. Set the Country and State
    3. Click and Save the Configuration

Appearance of GST Rates in the Admin Panel

Once the admin has enabled the GST feature, the tax is automatically calculated based on the shipping origin that is Warehouse address and the customer delivery address.

These calculated and applicable taxes are reflected on the following pages of the Magento2 admin panel:-

- - - Product Page
    - Order View
    - Invoice View
    - Credit Memo View
    - Transaction Email and pdf

Appearance of GST Rates at front end (Customer’s end)

- - - At the time of checkout

- - - Order view

Features of our Indian GST Magento 2 extension are as follows:

1) Installs GST tax classes: Offers tax classes, rules, and rates in accordance with the latest GST format that be will automatically added to your Magento2 backend.

2) State-wise tax computation: GST has many forms such as GST levied on the intra-State sale by the Centre is known as Central GST (CGST), and that collected by the States is State GST (SGST). Tax on the inter-State supply of goods and services is known as Integrated GST (IGST), which is collected by the Centre.

All these have been efficiently managed in this extension.

3) Automatic tax split: CGST & SGST, both taxes are equally applied to all intra-State orders made on the Magento store.

4) Provides flexible tax rate configuration: Appropriate tax class can be configured for a specific product according to the GST tax slab rates.

5) Additional tax slabs: You can also implement additional tax classes to deal with products like precious stones and metals, which haven’t been allotted to any one of the GST slabs pegged at 5%, 12%, 18% and 28%.

6) Updated order details: The orders placed falling under GST will include the associated GST(CGST, SGST or IGST) in the product’s order view, invoice, shipment and credit memo,etc.

7) HSN support: Harmonized System of Nomenclature or HSN is used to ensure that the GST invoicing practices are following with international standards of product nomenclature. Therefore an extra attribute for HSN is added for all Magento products which will be mentioned in the product’s order details.

8) GSTIN support: GSTIN is a state-wise PAN-based 15-digit Identification Number which has been allotted to every tax payer. Magento2 store owner’s GSTIN will be mentioned in their product’s transactional documents, along with other order details.

Why choose CedCommerce’s Indian GST Extension Magento 2?

It automatically configures your Magento 2 store with all the essential requirements of a GST compliant e-Commerce website. No need to manually configure Magento 2 tax classes and take any business risk. Simple to use, you just have to install this extension and make your Magento 2 store GST ready.

You can also follow the User Guide: Indian GST Extension for Magento 2 – Guide