Magento GST Extension
The Indian government recently launched GST – Goods & Services tax replacing all the various taxes with a single tax which has affected E-commerce market. Moreover, GST will grant Indian businesses access to the complete national market without having to spend heavily on a nationwide warehousing and distribution network and the process, further propel the country’s economy.
With the many advantages that it brings, GST is also a matter of concern for businesses as they define and streamline their processes to comply with the new system of taxation. The law is expected to mainly influence the country’s burgeoning e-commerce market, as many e-commerce vendors are likely to be caught unaware of the changes.
Worried about GST acquiescence of your Magento store? Our Magento GST extension is to the accomplishment! Configure your Magento store with the GST tax rules as per the Indian government organizations. Get GST Splits (CGST, SGST, IGST) in Invoices, Orders, PDFs, and Reports automatically for stores based in India. Our extension comprises all possible scenarios that occur for e-commerce transactions across product types and categories. Easily organize GST on your website with different tax slabs utilizing Magento’s taxation architecture of tax classes, zones, and rates.
Online Magento stores are in a fast race to implement GST rules in their business and make stores GST ready. Modulebazaar has come up with two GST extensions that are Magento 1 GST Extension and Magento 2 GST Extension to create rules & rates and apply GST on goods and services rendered by your Magento stores. This extension will establish default tax as GST, and all tax operations will automatically align based on GST standards and norms.
Why choose Module bazaar’s Magento 1 GST Extension and Magento 2 GST Extension?
• The word ‘TAX’ to get substituted by the word ‘GST’ in all transactional emails and pdf files.
• Generate reports of GST obtained separately for CGST, SGST, and IGST.
• Supports Magento Tax Rules architecture, hence works out of the box without conflicts.
• Automatic tax splits for SGST, CGST, and IGST based on the production state and tax rules.
• Multi-store support: Enable GST logic only to required stores.
• Separate lines for SGST, CGST, and IGST in the admin panel area for Order and Invoice management.
• All invoices, orders and their respective PDFs are attached with GST number.
• Optional buyer level GSTIN included in the invoice.
• Option to display HSN value in the invoice.
• The full solution to manage GST as per government rules for any scenario, product categories, and tax slabs.
• GST compliant invoices including PDF and emails.
Modulebazaar also provides 15 days money back guarantee option if you are not satisfied with the extension but also provides 100% satisfaction guarantee.
Benefits of Indian GST Magento Extension:
1. Install GST tax classes:
After installing the Magento GST extension, appropriate tax classes, rules, and rates will automatically be added to your Magento backend. These tax classes are by the latest format of GST and will be utilized to determine the suitable tax rates for different products. In short, you will be spared the need to worry your head about the new tax schemes being brought about by GST.
2. State-wise tax computation:
As we know that the GST levied on the intra-State sale by the Centre is Central GST (CGST), and that collected by the States is State GST (SGST). Finally, there is the tax on the inter-state supply of goods and services, Integrated GST (IGST), which is collected by the Centre. So depending upon the location of from where the merchant’s shipping origins, and the customer’s address, the “Magento GST Extension will determine the appropriate tax method and automatically apply to the transaction.
Just think of the trouble you will otherwise have, in trying to decide this single tax for your products.
3. Automatic tax split:
With the Magento GST Extension, CGST & SGST, both of these taxes are equally employed to all intra-State purchases made on the Magento store. For example, 9% GST and 9% GST will be applied to the sale of products that come under the 18% tax slab. However, that shouldn’t be a matter of concern for you as the Magento GST extension will take care of these things for you.