With the introduction of Goods & Services Tax (GST) regime, the Indian businesses are striving to lead the competitive edge and improve performance to support growing trajectory of Indian economy. Undoubtedly, this transition of India Tax regime to GST will reduce many business complexities and this common indirect tax structure would drive transparency, too.

However, adaptability is a key challenge for many business organizations and meeting all requirements around GST and TAX regulations often go tricky on account of compliance and management.

Considering challenges around taxation within Indian localization, inoday presents a customizable solution that is scalable enough to address GST and TDS business requirements, which is based on the fundamentals of NetSuite SuiteTax.

Common TDS Challenges

  • TDS on Vendor Bill
  • TDS on Vendor Prepayment
  • Preparation of Vendor Bill with Bill Uploader
  • TDS Challan Creation
  • TDS Return/Reports as per Indian Taxation
  • TDS on Customer Receipt

inoday NetSuite Tax Bundle for India GST and TDS Management

Acclaimed as #1 NetSuite Partner in India, inoday has come with India Tax Bundle to address GST and TDS requirements around Indian localization. This comprehensive and scalable inoday NetSuite Tax Engine is capable of automated tax reporting, offers seamless integration, and is GST compliant. With high flexibility across reporting, tax code configuration, and tax details capturing at both the customer and vendor site, this Indian Taxation Bundle for NetSuite solution helps growing businesses meet GST and TDS regulations without a hitch.

KEY FEATURES

VENDOR PREPAYMENT

inoday-NetSuite Tax bundle has been introduced with adaptive capabilities, where it allows its users to book a section-wise TDS liability while making a vendor prepayment.

Additionally, business leaders seeking business expansion and scuffling with tax regulatory challenges can make the most of this solution to calculate TDS on vendor prepayments and analyze bills and reports accordingly. Our experts hold rich experience and expertise around NetSuite Sales Tax Integration as well.

You can even upload vendor bills against those vendors with whom you had prepayments and deduct TDS as well.

BILL UPLOADER GOES LIKE:

  • First Line: Without fields required for TDS payments (Against Advance Payments Amount)
  • Another Line: With TDS Calculation (Remaining amount of the bill

TDS CHALLAN BOOKING

This inoday NetSuite Tax Engine enables you to book separate challans for separate section and the type of the vendor. While creating invoice, you can come across automated generation of challan based on

  • Vendor Type
  • Section Cod

Additionally, it offers Automated Multiple Challan creation based on section code and vendor type of a month.

TDS REPORTS ON RETURN FILLING

 By leverage our expertise around Indian Taxation Management, we are providing this inoday NetSuite GST bundle to help businesses get reports for smooth return filling.

This inventive solution creates TDS reports for 26Q and 27Q in standard format for return filling and validation. You can avail of TDS reports in excel/csv format to analyze and reconcile the same before filling them with the Income Tax department.

TDS ON CUSTOMER RECEIPTS

This exclusively orchestrated inoday tax bundle around Indian localization helps book TDS receivable while having receipt of payment from the customer.

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