What is goods and services tax in SAP CA-GTF-CSC - Country-Specific Objects?

SAP Term: goods and services tax

• Component: CA-GTF-CSC

• Component Name: Country-Specific Objects

• Description: In India, an indirect tax charged on the supply of goods and services, right from the manufacturer or service provider to the consumer. Credits of input taxes paid at each stage is available in the subsequentstage of value addition. Thus, the final consumer will only bear the taxcharged by the last dealer in the supply chain, with set-off benefits atall previous stages. This tax system comprises of the following: Central GST CGST: levied by the Central Government State GST SGST: levied by the State Government Integrated GST IGST: levied by the Central Government on inter-state supplies Union Territory GST UTGST: levied by the State/Union Territory on intra union territory supplies

Smart SAP Assistant

• Key Concepts: 
  Goods and Services Tax (GST) is a type of indirect tax levied on the supply of goods and services in India. It is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. GST is applicable to all goods and services except those specifically exempted. GST is administered by the Central and State Governments in India. 
  
  How to use it: 
  The Component CA-GTF-CSC Country-Specific Objects is used to configure the country-specific objects for Goods and Services Tax (GST) in India. This component enables the user to configure the GST tax codes, GST tax types, GST tax rates, GST tax calculation rules, GST tax exemptions, and other related objects. 
  
  Tips & Tricks: 
  It is important to ensure that all the necessary configurations are done correctly in order to ensure accurate calculation of GST taxes. It is also important to keep track of any changes in the GST rates or rules as they may affect the calculation of taxes. 
  
  Related Information: 
  For more information on Goods and Services Tax (GST) in India, please refer to the official website of the Central Board of Indirect Taxes and Customs (CBIC): https://www.cbic.gov.in/gst