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Indian taxation localization support for project integration journal

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Important

This content is archived and is not being updated. For the latest documentation, go to What's new or changed in Dynamics 365 Finance. For the latest release plans, go to Dynamics 365, Power Platform, and Cloud for Industry release plans.

Enabled for Public preview General availability
Users, automatically - Jul 14, 2023

Business value

This feature helps you record Indian taxes such as GST and TDS/TCS. Using Project integration journals, including Fee, Hour, Expense, and Item, you can also show project profitability correctly. This feature also allows you to generate legally compliant tax invoices and financial reporting.

Feature details

Project integration journals combine the existing Project management and accounting modules with Microsoft Dynamics 365 Project Operations. Project Operations offers end-to-end coverage of customer relationships and can handle operations such as proposal, modeling, scheduling, delivering, and billing services rendered. In order to execute the operations with appropriate legal compliance, Project Operations provides accountants with a tool to review transactions and adjust the accounting attributes as needed in Integration journals. India localization support for project integration journals enables you to calculate Indian taxes such as GST and TDS/TCS. You can also generate customer tax documents, revenue recognition, and legally compliant financial reporting.

The following integration journals will be covered to calculate India taxes for Fixed and Time and material project scenarios.

  • Project integration journal - Fee
  • Project integration journal - Hour
  • Project integration journal - Expense
  • Project integration journal - Item

See also

GST/TDS-TCS tax support for Project integration journals (docs)