Description
With the Magento 2 Multi-Vendor Indian GST extension, marketplace owners can confidently create and calculate tax rates and rules based on the seller’s business type, ensuring their marketplace is fully GST-ready.
On the 1st of July 2017, the Indian government introduced the Goods and Services Tax (GST) to the general public. This tax replaced pre-existing taxes with a destination-based, multi-stage, indirect tax system. The GST applies to all eCommerce and Magento stores within India. The World Bank has stated that the GST is one of the most complex tax systems worldwide due to its intricate nature.
As the GST is bifurcated into multiple tax slabs, it has become more difficult to implement such a complex taxing system in Magento 2. Managing a multi-vendor marketplace entails dealing with numerous vendors who sell various products on your platform.
This necessitates the computation of GST tax rates based on the product and its category, which can be intricate due to varying tax brackets. An automated system is needed to collect and accurately compute vendor tax rates.
The Magento 2 Multi-vendor Indian GST Extension, also called the Magento Multi-vendor GST Module by MageComp, confidently calculates GST for products sold through your Magento stores by vendors. The module fully complies with the Indian government’s GST standards and prominently displays the vendor’s GST number and summary in all Magento order documents.
Why choose MageComp’s Magento 2 Multi Vendor Indian GST Extension?
-
Allows admins to enable/disable the module for global, category, and product-specific configuration.
-
Orders that are placed with the GST module showcase a detailed bifurcation of tax rates in the order view, credit memos, invoices, new order emails and PDFs.
-
The GST module displays a detailed SGST and CGST tax bifurcation in the order details.
-
The module automatically calculates IGST, CGST and SGST based on the products added to the cart.
Benefits of Multi Vendor Indian GST for Admins
-
Allows admins to mention their GSTIN, CIN and PAN number in all order details.
-
Admins can import the product-specific GST via a CSV file.
-
Admins have the option to include or exclude GST tax rates from the product prices.
-
Admins can easily set their business origins and apply IGST (interstate Magento GST)
-
The module allows the admin to upload an image and a digital signature to display in invoice PDF.
-
Admins have the option to generate detailed GST reports based on orders and products.
Benefits for Vendors
-
Vendors are allowed to add their GST number to all invoices and other documents.
-
Vendors can set a GST rate from the backend grid while creating a product.
-
Vendors can also set a minimum order price to apply GST rates.
Benefits for Customers
-
Customers can enter the buyer’s GST number to signup.
-
Customers can update their buyer’s GST number any time they want from their account grid.
