LET'S SEE HOW GSTGSS HANDLES INTERNAL and PURCHASE REQUISITION...
An internal requisition form is used by any employee and their supervisor or head of department to request or approve for a specific product or goods within a department. With this requisition form, any employee can list out the required goods.. All necessary rules of internal requisition is implemented in GSTGSS which will help you to be GST Compliant.
GSTGSS combined internal requisition and purchase requisition to provide a flexible solution for your inter-organization and intra-organization requests.
Input Tax Credit is not allowed for Goods and Services used for Personal Use. When Goods and/or Services are received partly for Business and partly for personal use, one can avail ITC but only for the portion which is used for Business.
It also significantly eliminates indirect spend while reducing the time and effort spent by employees chasing paperwork and emails to maintain purchasing records.
The purchase requisition workflow is a step-by-step process in GSTGSS that outlines how a purchase is made inside an organization if the material is not available in Store. This process starts when a purchase requisition is submitted for review and ends when the procurement department sends a purchase order (PO) to suppliers.
In addition, if an item is used for private use of employee or gifted to employee the ITC must be returned by the company.
Limited time offer* - Try GSTGSS now and get some offers!