GST Compliance in Odoo
For businesses operating in India, maintaining strict compliance with the Goods and Services Tax (GST) is mandatory. Odoo ERP features a powerful localization module for India that handles CGST, SGST, IGST, e-invoicing, e-way bills, and automated tax filing preparation. Let's look at how to configure it correctly.
Step 1: Set Up Your Company Localization
During the setup of Odoo Accounting, install the Indian - Accounting localization package. This automatically configures standard Indian tax rates (5%, 12%, 18%, 28%), standard chart of accounts, and HSN/SAC code support.
Step 2: Assign HSN/SAC Codes to Products
Every product or service invoice must have a valid HSN (Harmonized System of Nomenclature) code. Update your product templates in Odoo to specify their HSN numbers, which allows Odoo to automatically fetch the correct tax percentages (e.g., 18% IGST for interstate transactions).
Step 3: Setup E-Invoicing & E-Way Bills
If your business turnover exceeds the government-mandated threshold, you must register invoices directly with the Invoice Registration Portal (IRP). Connect Odoo directly with GSP (GST Suvidha Provider) using Odoo Enterprise credentials to generate IRN (Invoice Reference Number) and QR codes instantly upon invoice validation.