GST India How It Impact On ERP Systems

What is the GST ?

                                                                      

GST means goods and service tax which is under the indirect Tax. GST replace most indirect taxes currently in place such as:

Proposed GST Structure:

GST Impacts on Key Business:

GST Game Changer:

GST will be a game changing reform for Indian economy by developing a common Indian market and reducing the cascading effect of tax on the cost of goods and services. It will impact the tax structure, tax incidence, tax computation, tax payment, compliance, credit utilisation and reporting leading to a complete overhaul of the current indirect tax system.

What process needs to be followed for implementing GST in ERP Programs:

• Goods & services tax act-study 
• Understand how GST is subsuming of existing taxes
• Understand functioning of GST
• Understand GST compliance's

How can we Manage GST in Microsoft Dynamics Navision:

Till the Microsoft patch release we will manage it through minor customisation and structure and to set up posting details for GST, you must define the posting groups, rate of GST, and the accounts to which GST is to be posted.

• Need to change master data, supply chain, transactions and system design.
• Existing open transactions as on the cut-off date need to be migrated out to ensure smooth transition to GST.
• Changes in supply chain report e.g. purchase register, sales register and service register.
• Changes in tax Reports.
• Changes need to be done on forms & Tax Returns
• As per compliance changes needs to be done on documents e.g. invoices, purchase orders and credit memos.

How GST makes ERP life easy

Current Process

Currently we need to make multiple setups in the Microsoft Dynamics Nav e.g. excise setup, service tax setup and sales tax setup.

After GST

After implementation of GST, the process will become simpler with only a single setup.

About the Author:
Kunj Bihari Agrawal is a senior functional consultant for Microsoft Dynamics Navision. Kunj has a rich experience of over 11 years in finance domain & India statutory in MSD NAV. He has a passion for exploring possibilities of easing the entire ERP migration for corporate and is currently working with various government and private focus groups in ironing out the creases & roadblocks for GST migration on various technology platforms. He can be reached at: [email protected]

Top Five Reasons to Implement Standard ERP in Poultry Industry

Poultry or Livestock industry is growing due to increase in the urban per capital and falling prices of the broiler & egg. Now to compete in the growing market to sustain or increase the market share, organization needs to innovate. One of the important aspect in this innovation is adoption of the IT systems in business process. Following top 5 reasons can explain, why you need IT systems to automate your business processes:

1. Information Captured at farm level: An integrated software helps in accumulating the information from the farms & other business functions at a centralised location. Which further help in analysing the key parameters in a real time contributing to proactive measures for key indicators such as mortality ratios, FCR or feed planning.

2. Integration with finance: Traceability of all the expense items and profitability at a farm/hatchery/feed plant level helps in calculation of P&L at same level. A click of button can drill down to profitability at farm/feed plant/hatchery as ERP helps in capturing all the information.

3. Collaboration with Mobility: Mobile solution helps in better collaboration through flow of information across organization with single source of truth. ERP like Microsoft Dynamics Navision supported by solution like NAVFARM, provide mobility to the sales person/farm supervisors/CXO etc.

4. Effective utilization of resources: 80:20 rule applicable in saving the 20% increase in availability of effective time of resources by ERP initiative, contributes to the 80% increase in the Key deliverable due to investment of the time in proactive measures rather post fact analysis.

5. Tap the untapped potential: ERP for poultry give better control on the dynamics of the market enabling management by better understanding of the market trends. Which further helps organization to enter in the new markets with intelligent data.

A story can be written on the heaps of under hidden benefits which can be achieved by Poultry industry by using standard ERP. In next series we will discuss difference between standard and custom ERP. Keep following us for next edition.