GST Prepayment Process in navision

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  MPandey Member Posts: 3

  2017-07-08 edited 2017-07-08

  GST on Advance Payment -
  
  GST on Advance Payment field needs to be activated in General Journal Line for computation of GST on Advance Payment. In addition, GST Group code, GST Place of Supply and HSN/SAC Codes are to be entered for computation of GST.
  
  
  GST on Advance Payment is calculated in the following scenarios:
  
  • Import of Services
  
  • Purchase of goods and services from an unregistered person
  
  GST on Advance Payment is not calculated in the following scenarios. In other words, system shall not allow you to check GST on Advance Payment in the following scenarios:
  
  • Normal purchases
  
  • Import of goods
  
  For the above scenarios, no GST liability is created at the time of advance payment and hence no GST related accounting entries are generated.
  
  Create Advance Payment entry in a normal way, new changes are; Place check mark on GST on Advance Payment, Select GST Group code, HSN Code, Location code, GST Place of Supply (you have to activate these fields on Bank/Cash Payment voucher screen).
  
  System will auto update GST Base amount.
  
  
  Then click on Preview Posting button & check G/L Entries.
  

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