title | description | author | ms.author | ms.topic | ms.custom | ms.date | ms.reviewer | ms.search.region | ms.search.validFrom | ms.dyn365.ops.version | |
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Import goods that have GST |
Learn how to import goods that have Goods and Services Tax (GST), including processes for validating tax details and updating the invoice registration. |
epodkolzina |
epodkolzina |
how-to |
|
06/04/2019 |
johnmichalak |
India |
2019-06-01 |
10.0.4 |
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Complete the procedures in this article to import goods that have Goods and Services Tax (GST).
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Go to Accounts payable > Purchase orders > All purchase orders.
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Create a purchase order for a foreign vendor account, and save the record.
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Select Tax information.
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Select the GST FastTab.
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Select the Customs FastTab.
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Select the Vendor tax information FastTab.
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Select OK.
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Select Functions > Maintain charges.
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In the Charges code field, select a charges code.
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Select the Assessable value check box.
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In the Charges value field, enter a value.
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Save the record, and then select Close.
Note
The assessable value is calculated as Net amount + Miscellaneous charges + 1 percent of the landing charges that are defined in Accounts payable parameters.
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On the Purchase orders page, on the Action Pane, on the Purchase tab, in the Tax group, select Tax document.
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On the Tax details FastTab, review the tax calculation.
Here is an example:
- BCD: 10 percent
- LOI: 100 percent
- IGST: 20 percent
- Import exchange rate: 1 USD = 52 INR
[!NOTE] By extending the configuration, you can have Integrated Goods and Services Tax (IGST) calculated on Assessable value + Basic Custom Duty (BCD) tax amount.
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Select Close.
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Select Confirm.
- On the Purchase orders page, on the Action Pane, on the Customs tab, in the Maintain group, select Invoice registration.
- In the Import invoice number field, select a value.
- Select Update.
- On the Purchase orders page, on the Action Pane, on the Customs tab, in the Generate group, select Bill of entry.
- In the Import invoice number field, select a value.
- In the Bill of entry number field, select a value.
- On the Lines tab, in the Quantity field, enter a value.
- Close the message that you receive.
- Select Tax document.
- Select Close.
- Select OK.
- On the Purchase orders page, on the Action Pane, on the Receive tab, in the Generate group, select Product receipt.
- In the Quantity field, select Bill of entry quantity.
- In the Product receipt field, enter the product receipt.
- Select OK.
The following illustration shows an example of a journal entry for an import purchase order that has GST.
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