GST for stock transfer Implement Started

ERPNext
1

Hello Team,

We have started to implement this feature into ERPNext via stock entry. Now we are just remaining with Accounting entries. Any help will be appreciated for accounting entries.

( 1 ) Stock Entry Screen

Material Transfer for Branch
Material Transfer for Branch945Ă—1369 44.6 KB

( 2 ) Warehouse Screen

Warehouse
Warehouse941Ă—826 17.9 KB

Thanks

1 Like
2

Some thoughts:

  1. There should be validation to allow only one combination of Source + Target warehouse per entry in such cases.

  2. For accounting
    a. Material Transfer Accounting can be as it is.
    b. Add a check box “Apply GST”. If this is selected:
    a. Show tax table with Item Tax applicable. If item value is 100 & IGST is 28, this would show the amount of IGST. This can be fetched from Item Level Tax template.
    b. GST Accounting should be between, GST Payable & GST Recoverable and these accounts can be shown or set at company level & appropriate Dr & Cr entry can be passed.
    c. Additionally add a field at Stock Entry Item level which would copy default Item cost but would be editable. GST % would be calculated on the sum of these fields at line level. These would be only for GST calculation but not for Item Valuation.

3

Thank you Pawan for your guidance.

For Accounting entries I am still confused.

4

For Stock Transfer entries, they can be as they are happening today. I think only additional entries would be,
GST input - Dr - Rs 28
GST output - Cr - Rs 28

These are just thoughts but this approach can be validated by accounting experts in the community.

5

Yes, you are right. Any accounting export suggestion would be appericiated.