Hi friends, We are in the Oracle Fusion Tax Implementation series. This is the Lesson number 10 of this series. Lets start and learn how to Implement the Taxation in Oracle Fusion.
Creating IGST Tax in GST Regime
Tax Regime Code: INDIA GST1 (Need to select the Right Regime, we created in Last step)
Configuration Owner: ABC CORP (Need to Select the BU Name for which we want to use this Tax).
TAX: INDIA SGST (TAX Name we need to enter, can enter any name but should be logical).
TAX: INDIA SGST (TAX Name we need to enter, can enter any name but should be logical).
Start Date: Same Date as we entered in the Tax Regime.
Tax Information:
Geography Type: Country
Tax Currency: INR
Tax Precision: 0 (We don’t want the Tax in Decimal).
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| Chapter 10: Oracle Fusion Tax Implementation |
Control and Defaults:
Tax Point Basis : Invoice
Tax Inclusion Method: Standard noninclusive
Allow override and Entry of inclusive tax lines : Yes
Allow tac rounding overrise: Yes
Allow entry of Manual Tax Lines : Yes
Tax Exceptions and Exemptions:
Allow Tax Exceptions : Yes
Allow Tax Exemptions : Yes
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| Chapter 10: Oracle Fusion Tax Implementation |
TAX Rule Defaults for Taxes:
Place of Supply : Ship to , use bill to if ship to is null.
Tax Applicability : Not Applicable.
Tax registration : Bill-from party
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| Chapter 10: Oracle Fusion Tax Implementation |
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