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1. The document outlines steps to define tax codes, categories, and item categories for VAT taxation in India. This includes defining codes for different VAT rates, assigning categories to item classes, and attaching categories to suppliers, customers, and inventory organizations.
2. Additional information like item categories can be attached to specific supplier sites and customer records. Item categories default taxes for transactions based on the supplier, site, item class, or can be manually assigned.
3. Tax configuration defaults applicable taxes for items using a three-level process considering the supplier's item category, null site category, or the item's class. Manual assignment is allowed if defaults do not apply.
1. The document outlines steps to define tax codes, categories, and item categories for VAT taxation in India. This includes defining codes for different VAT rates, assigning categories to item classes, and attaching categories to suppliers, customers, and inventory organizations.
2. Additional information like item categories can be attached to specific supplier sites and customer records. Item categories default taxes for transactions based on the supplier, site, item class, or can be manually assigned.
3. Tax configuration defaults applicable taxes for items using a three-level process considering the supplier's item category, null site category, or the item's class. Manual assignment is allowed if defaults do not apply.
1. The document outlines steps to define tax codes, categories, and item categories for VAT taxation in India. This includes defining codes for different VAT rates, assigning categories to item classes, and attaching categories to suppliers, customers, and inventory organizations.
2. Additional information like item categories can be attached to specific supplier sites and customer records. Item categories default taxes for transactions based on the supplier, site, item class, or can be manually assigned.
3. Tax configuration defaults applicable taxes for items using a three-level process considering the supplier's item category, null site category, or the item's class. Manual assignment is allowed if defaults do not apply.
Define tax codes that are applicable under VAT regime. Taxes that can be defined under VAT Regime are Value Added Tax, Octroi, Purchase Tax, Turnover Tax and Entry Tax. If VAT is applicable, the codes defined here will not be considered for accounting. The account codes defined at Organization Regime Registration details will be considered. When VAT is applicable, codes can be created for different rates of taxes alone since the account code for each inventory organization can be taken up at Organization Regime Registration. .
Figure 1.1 VAT 4% FOR PSIN INVENTORY ORGS Figure 1.2 VAT 12% FOR PSIN INVENTORY ORGS Figure 1.3 VAT 4% for NPI Inventory Organisation Figure 1.4 VAT 12% for NPI Inventory Orgs Figure 1.5 Entry Tax 12% for NPI Figure 1.6 Entry Tax 12% for PSIN Step No
2 Define Tax Categories
Responsibility
India Local Purchasing
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Setup Tax Tax Categories
Figure 2 Tax Categories
Tax Categories can be defined for each Item Class and for each Operating Unit. Item Classes are (FGIN/CGIN/CCIN/OTIN/RMIN/ FGEX/CGEX/CCEX/OTEX/RMEX). This can be defined for each item class or without item class generally. Figure 2.1 Tax Categories for PSIN for item class FGIN Figure 2.2 Tax Categories without assigning item class. Step No
3 Define Item Categories
Responsibility
India Local Purchasing
Navigation
Setup Tax Item Categories
Figure 3 I tem Categories Item Categories associate the tax category for each item. We can create any number of item categories for a same item. Figure 3.1 I tem Categories State wise for TN
This item category can be attached to all customers of TamilNadu if the tax rate is going to be same for all the customers.
Figure 3.2 Item Categories State wise using different tax category This item category can be attached to all customers of Kerala, if the tax rate is going to be same for all the customers. Figure 3.3 Item Categories Customer wise
This item category can be attached specific customers (Glads). Step No
4 Define Item Class
Responsibility
India Local Inventory
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Setup Master Master Items /Organization Items
Figure 4 Defining a Master I tem.
If we want to Define item class wise tax categories, you should assign the item class for each item. This can be done at the DFF available in the Master Items Header Block ( Context India Items ). Step No
4.1 Define Item Class
Responsibility
India Local Inventory
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Setup Master Organization Items
Figure 4.1 View / Modify the same in organization.
If we want to Define item class wise tax categories, you should assign the item class for each item. This can be done at the DFF available in the Master Items Header Block (Context India Items). However if attribute of an item is different in another Inventory Organization, you can query the item in this form and modify the attributes. Step No
5 Additional Information for Supplier
Responsibility
India Local Purchasing
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Supply Base Additional Supplier Info
Figure 5 Attaching Item Class for a Supplier for null site Here Item Category List VAT is attached for a Null Site of a Supplier. Figure 5.1 Attaching I tem Class for a Supplier for specific site
Here Item Category List LST for Tamil Nadu is attached for a Specific Site of a Supplier. Step No
6 Additional Information for Customer
Responsibility
India Local Order Management
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Customers Additional Information
Figure 6 Attaching Item Class for a Customer Here we can attach the Item Category List for a Specific Customer POINTS ON TAX DEFAULATION
Tax configuration is basically for defaulting applicable taxes for a item at the time of entering transactions. In Procure to Pay (P2P) cycle, tax configuration follows a 3-way tax defaulting methodology.
First level considers the item category list attached to the supplier and site.
In the absence of first level, Second level considers the item category attached to the null site of the supplier.
In the absence of the both level, Third level considers the item class assigned to the item. Tax category and item class relationship should be set in the tax category window.
The tax so defaulted should be modified if necessary, according to the requirement of the transactions concerned.
Where all levels of defaultation fail, the users have an option to assign taxes to the shipment lines, manually.