GST in Odoo
GST in Odoo will be levied on goods and services. It will replace all the various Indirect taxes and bring them under one umbrella to make compliance easier. GST will replace the following taxes:
(i) Taxes currently levied and collected by the Centre:
- Central Excise duty
- Additional Duties of Customs (commonly known as CVD)
- Special Additional Duty of Customs (SAD)
- Service Tax
(ii) Taxes currently levied and collected by the State:
- State VAT
- Central Sales Tax
- Entertainment and Amusement Tax (except when levied by the local bodies)
- Taxes on lotteries, betting, and gambling
