Kerala Flood Cess Introduction
To stay up-to-date with all retail industry trends and government’s rules and regulations, Ginesys keeps introducing new features and make alterations in the existing ones. Kerala government has recently introduced calamity cess called Kerala Flood Cess, which would be levied in the state 1 August,2019 onwards. The KFC would be applicable only if the sale is made locally within the state to an unregistered party or direct consumers. 0.25% KFC is to be applied on all fashion jewellery and 1% KFC is to be charged on goods that attract more than 5% GST.
A new module has been introduced that allows Ginesys customers in Kerala to define the additional cess state-wise. Kerala Flood Cess ledger can also be created in the Accounts module. Additionally, all document reports and bills would indicate the KFC break up.
This new feature ensures that Ginesys remains GST-compliant on a timely basis despite the frequent changes in the law.