A novel generalized side-information cancellation (GSIC) precoder is proposed for multiuser multi-input multi-output (MIMO) downlink systems with channel state information at the transmitter. The proposed transceiver involves the following stages. First, a minimum mean square error (MMSE) based channel inversion (MMSE-CI) technique is utilized to suppress multiuser broadcast interference. By using a GSIC technique, it can further reduce the residual multiuser interference and the noise induced by MMSE-CI preprocessing. Next, with a singular value decomposition method, the spatial stream interference of each user is suppressed by the pre-processing and post-processing eigenvector matrices. Finally, the proposed precoder can be extended to joint water filling and diagonal loading methods for performance enhancement. For the correlated MIMO channels, signal subspace and antenna selection methods, incorporating the proposed GSIC precoder, are further designed to maximize the sum rate performance. Simulation results show that the proposed GSIC precoder outperforms the conventional precoders. Besides, simulation results confirm that the proposed GSIC precoder with water filling, diagonal loading, and signal subspace techniques exhibits excellent performance.