What is the Process of SEZ Billing in Marg Software ?

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What is the Process of SEZ Billing in Marg Software ?

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Overview & Introduction of SEZ Billing

Process of SEZ Billing in Marg ERP Software

OVERVIEW & INTRODUCTION OF SEZ BILLING

A Special Economic Zone (SEZ) is a dedicated zone/area wherein the Business and Trade laws are different from the other countries.

SEZ’s are located within a country’s national borders or in underdeveloped areas so that Trade & Investment can be increased in the nearby areas and unemployment can be diminished.

**One thing to be noted that if any purchase or sale is being done against SEZ then only IGST will be applicable there whether it is interstate or intrastate.

PROCESS OF SEZ BILLING IN MARG ERP SOFTWARE

In Marg ERP Software there is an option for generating the Voucher Entries on the purchase of goods and services from those parties which are established in SEZ (Special Economic Zones).

Firstly, the user will create ledgers for those SEZ parties from whom purchase and sales needs to be done. For that go to Masters >> Ledger Master >> New Ledger.

Select 'Sundry Debtors'.

A 'Create Ledger' window will appear in which the user will enter the Ledger Name as per the requirement.

Suppose mention 'Soham Medicos'

In 'GST Heading' option, select 'Ask Central' and mention GST No. of the party.

Then press 'Ctrl+W' to save the details.

In the same way create another Ledger by selecting Sundry Creditors(Suppliers) as shown below

Fig. 1: Selecting the Group for Creation of New Ledger in Marg ERP Software

Case 1: When the user sells goods to SEZ Dealer

Go to Transactions >> Sale >> Bill.

Select the Ledger as per the requirement.

Suppose select 'Soham Medicos'.

Now when the cursor will stop on the sale type then press Space Bar or 'F2' function key on it. If the Cursor not wait sale type

Now, select Sales Type as 'Export Deemed'.

Now the user will Select an item.

Press 'TAB' key.

Click on 'Yes' to Save the bill.

An 'Export GST' window will appear with a message i.e. Export Sale? ... Without bond/letter of undertaking?

It means that when firm gets established in SEZ area then they get an exemption in tax for particular period of which LUT bond is being created.

So, if that bond is not with the user then select 'Yes' and tax will be applicable in this case. And if there is bond then the user will select “No” and then tax will not be applicable on it.

Suppose click on 'Yes'.

Now the voucher entry will get generated.

So, in this way the user can sell to a SEZ dealer.

Case 2: When the user purchases goods from SEZ Dealer

For that go to Transactions >> Purchase >> Bill.

Select the Ledger as per the requirement.

Suppose select 'Laxmi Narayan Agency'.

Now when the cursor will stop on the purchase type then press Space Bar or 'F2' function key on it. If the Cursor not wait purchase type

Now, select Sales Type as 'Import Deemed'.

Now the user will Select an item.

Press 'TAB' key.

Click on 'Yes' to save the bill.

An 'Import Duty' window will appear with a message i.e. Custom Duty? ... Calculate RCM & Custom Duty? It means that when the user needs to calculate the RCM & Custom Duty.

Suppose select 'Yes'.

Now, if the user has paid the custom duty to Custom Department and needs to calculate that also then here the user will add the value of the Total amount and custom duty and then click on. Like, the user will enter 1000 here.