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    Odoo GST – Returns and Invoices

    Introduction

    Odoo GST – Returns and Invoices: An application which helps to file the monthly return that summarizes all outward supplies by registered taxpayers.This application helps to generate CSV for all type of customers(B2B, B2BUR, B2CS, B2CL, Export, Import) .

    Time and again, we have emphasized and underlined that using the right kind of technology for tax-related processes is going to become extremely important. This time we have come up with a module which helps to file the monthly return that summarises all outward supplies (sales) by registered taxpayers. Businesses have to make sure that invoices are created in a format which obeys the GST guidelines. Invoice is the most important document in an administration of GST.

     

    A BRIEF INTRODUCTION TO GST

     What is GST Return?

    A return is a document containing details of income which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability.

    Under GST, a registered dealer has to file GST returns that include:

    • Purchases
    • Sales
    • Output GST (On sales)
    • Input tax credit (GST paid on purchases)

    GSTR-1: Details of outward supplies of taxable goods and/or services affected.

    GSTR-2: is a monthly return that summarizes the details of inward purchases of taxable goods and/or services.

    GST INVOICES

    Invoices are of various types depending on various parameters like customers delivery address, order amount etc.

    With the help of this module, Invoices are created as per these standard order types – B2B, B2CS, B2CL, and Export.

    B2B: It means Business to Business Invoice. These registered parties may be within a state or outside the state

    B2CS: It means Business to Small Customer Invoice.  It means Local (within the state) sales to Unregistered persons of an amount less than 250000

    B2CL: It means Business to Large Customer Invoice.  It means Interstate sales to Unregistered persons of amount more than 250000

    Export: It means sales outside the country.

    Reverse charge is a mechanism where the recipient of the goods and/or services is liable to pay GST instead of the supplier.

    Features

    • A user-friendly application which helps to file a tax return of GST invoices in easy steps.
    •  This application provides a list of tax rates for all goods and services.
    •  Easy to manage taxes for interstate as well as export type customers via fiscal position.
    •  Manage GST accounting and GST Records for transactions.
    •  Manage GSTR1 and GSTR2 invoices.
    •  One of the most brilliant features of the module is that you can view detailed information about taxes.
    •  An intelligent module which automatically identifies invoice type(B2B, B2BUR, B2CS, B2CL, Export, Import) from customer invoices.
    •  You can generate quarterly as well as monthly periods.
    •  You can download CSV of all type GST invoices(B2B, B2BUR, B2CS, B2CL, Export, Import) in a single place.
    •  You can also download CSV of HSN summary along with other invoices.
    •  JSON data of all GST invoices and HSN summary is also available which helps to file a tax return.
    •  All Unit Quantity Codes(UQC) is also available which helps to make your HSN summary perfect.
    •  All Port Code data with location description, state and country are also available which helps to make your IMPG(Import of goods) summary perfect.

    Installation

    After buying this app from our Webkul store you will get the link for downloading the zip file. Simply download it and extract then you will see the gst_invoice folder, now you will have to copy this app folder inside your Odoo addons path.

    Now simply follow these steps:
    1. Go to settings menu and click on Activate the Developer mode.
    2. Now go to apps menu and Click on ‘Update Modules List’.
    3. Remove the app’s filter and search for the gst_invoice key.
    4. Now you will see the module then simply install it.

    After installing you will be able to handle different functionality as mentioned in module’s workflow.

    Workflow

    Let us understand how this module works.

    Here is the dashboard from where an admin can get the quick view of all the GST returns and their status.

    Under configuration admin can create unit quantity code also he can import the same.

    Admin can also create or import Unit of measure mapping from this module.

    All Port Code data with location description, state as well as the country are also available which helps to make your import of goods (IMPG) summary perfect.

    Now before the return is filed you need to create the fiscal year. You can create financial year from GST>>Periods>>Fiscal year>>Create/import.

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    . . .

    A fiscal year (FY) is a period that a company or government uses for accounting purposes and preparing financial statements.

    Now if you create new fiscal year you need to define the year, code its starting and end date. After that, you need to define periods within this financial year it could be monthly or 3 month period.

    You can check here as for example I have created 3 month periods.

    Now comes the GST Tool GSTR1. This is an important part of this module from the menu GSTR1 you need to define the period for which you need to file GST return and set the date for which the invoices will be fetched. Admin will also determine the Gross turnover and current turnover and also allow reverse charge in case there is the requirement of the scenario.

    Now next step is to click on Fetch Invoices to fetch invoice of the defined period.

    As you will click on fetch invoice button it will fetch and display all the invoice for that period.

    On clicking the generate CSV button you will get a pop-up message with confirmation that your GST & CSV are successfully generated.

    Now all the B2B CSV, B2CS CSV, B2CL CSV, EXPORT CSV, HSN CSV & Json files are ready to be downloaded. You can reset or upload them. Once you trigger any action status will be changed accordingly.

    Click on File button and the status will be changed to Uploaded to govt.

    Follow the same procedure for GSTR-2

    All the B2B, B2BUR, IMPS, IMPG, HSN CSV & </>Json files are ready to be downloaded. You can reset or upload them from here.

    From customer invoices, you can see all the invoices ready to be fetched when you file a GST return.

    Supplier Invoice can be created from this menu. You may also check the status of the invoices.

    Support

    For any kind of technical assistance, just raise a ticket at https://webkul.uvdesk.com/en and for any doubt contact us at support@webkul.com

    Current Product Version - 1.0.0

    Supported Framework Version - Version 10/11

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