INDIA COMPLIANCE — Q&A
Q: What are the 10 GST treatment categories in Fincelo?
| Code | Treatment | GST behaviour | GSTIN required |
|---|---|---|---|
| registered_regular | Registered — Regular | CGST+SGST or IGST at standard rate | Yes |
| registered_composition | Registered — Composition | IGST only, no ITC | Yes |
| unregistered | Unregistered business | GST charged, B2CS in GSTR-1 | No |
| consumer | B2C individual | GST charged, B2CS | No |
| sez_unit | SEZ unit / developer | Zero rated, LUT required | Yes |
| sez_with_payment | SEZ with IGST | IGST charged, refund claimable | Yes |
| overseas | Export / overseas | Zero rated, LUT required | No |
| deemed_export | Deemed export | IGST charged, refund claimable | Yes |
| tax_deductor | GST TDS deductor | Standard GST + 2% GST TDS deducted | Yes |
| isd | Input service distributor | Standard GST, ISD distributes ITC | Yes |
Q: What TDS sections does Fincelo track? Fincelo tracks all 13 relevant TDS sections:
| Section | Description | Standard rate |
|---|---|---|
| 194J(a) | Professional services — CA, lawyer, doctor | 10% |
| 194J(b) | Technical services — SaaS default | 2% |
| 194C(individual) | Individual/HUF contractors | 1% |
| 194C(company) | Company contractors | 2% |
| 194A | Interest income | 10% |
| 194H | Commission / brokerage / referral | 5% |
| 194I(a) | Equipment / machinery rent | 2% |
| 194I(b) | Land / building / office rent | 10% |
| 194Q | Purchase of goods (>₹50L) | 0.1% |
| 194O | E-commerce marketplace | 1% |
| 194R | Benefits / perquisites | 10% |
| 195 | Non-resident payments | 20% |
| 206AA | No PAN / invalid PAN | 20% |
Q: How does 26AS reconciliation work in Fincelo? Each TDS deduction record has a
form_26as_matched flag.
Finance downloads the 26AS from the IT portal and reconciles:
- Expected TDS (invoice × rate) vs Actual TDS (what customer deducted)
- VFincelonce is auto-calculated per deduction
- Once matched against 26AS, status moves to ‘reconciled’
- Disputed entries (vFincelonce > ₹1) flagged for follow-up
v_tds_summary view gives total expected, total deducted,
total certified, and vFincelonce by customer, section, and financial year.
Q: How does PO management work for government / PSU customers? When a customer has the PO-required flag set:
- Invoices are held as Proforma until a PO is received
- Proforma has no invoice number, no GST liability, not in GSTR-1
- On PO receipt: Proforma converts to Tax Invoice (same record, in-place)
- Revenue recognition can be backdated to service start date with CFO approval
- Full audit trail: who converted, when, which PO number triggered it