With an aim to create one tax that can replace all existing multiple taxes levied by the Indian central and state governments, Goods and Services Tax (GST) was introduced by the government itself and came into effect from July 1, 2017. Basically, GST is an indirect tax, multistage, destination-based tax that is calculated on the supply of goods and services. It means all the E-commerce stores are covered under the hood of GST and Magento stores are no longer the exception in such case as it is compulsory for all Indian store owners to implement the GST. Even the World Bank says that GST is among the most complex system in the world.
Because the whole tax is divided into different tax slabs, it’s not easy to implement such a complex system in Magento 2. Things are different when you have a multi-vendor marketplace, as there are multiple vendors who come across and sell their products in your marketplace. At that time, you have to calculate the GST tax rate depending on the product and its category type as there are different tax slabs and it’s not easy as you think. Cause one Vendor sells multiple types of products in your store. To simplify things you need a whole automation system that collect tax rates from your vendors and calculates accordingly.
Magento 2 Multi-Vendor Indian GST Extension by MageComp auto-calculates GST on marketplace products as per configured by the vendor and add it on goods and services sold by your Magento stores. The extension will automate the whole GST calculation process and it is aligned to the Indian government's GST standards. Also, the extension displays the vendor's GST number and summary in all Magento order documents like invoice, shipments, and credit memos.
Why choose MageComp’s Magento 2 MultiVendor Indian GST Extension:
- Option to enable Magento 2 Indian GST Extension for global, category-specific and product-specific configuration.
- Orders applied with Magento 2 Indian GST displays detailed tax rates in order view, invoice, credit memo, shipment, new order Email, and PDFs.
- The extension will display GST bifurcation to get an idea of SGST and CGST in order details.
- Auto calculation of SGST, CGST, and IGST based on product selection and is added to the Magento 2 order subtotal.
MultiVendor Indian GST for Admin:
- Specify the GSTIN number to show in all the Magento generated order details.
- Add CIN number to show in various Magento created order documents.
- Add PAN number to show in various Magento made order documents.
- Now you can import product-specific GST by importing the CSV file.
- You can set product prices as including or excluding GST tax rates.
- You can easily set the business origin to apply IGST i.e Interstate Magento GST.
- Upload an image and set text for a digital signature to show in invoice PDF.
- Now you can apply Indian GST in Magento 2 store shipping charges including or excluding GST.
- Backend option to generate Order specific as well as Product-specific GST report as per need.
MultiVendor Indian GST for Vendor:
- The vendor can add their GST number to showcase on all Magento generated documents.
- Backend option to set GST rate while creating a product.
- Additional option to set minimum product price to apply GST rates.
- Set the Indian GST rate for the product prices below the specified minimum product price.
MultiVendor Indian GST for Customer:
- Your customer has an option to enter the buyer GST number while signup.
- Also, your customers can update their buyer GST number at any time from their account section.
Note: Please Raise Support Ticket after Purchasing this Extension as It needs some changes to be done in the Multi-vendor plugin.