Chapter 35: Oracle Fusion Tax Implementation

Creating Tax Rule for each Tax Classification Code under Each GST Taxes

Now We need to create the Tax Rule which will help to apply the taxes on transactions.

Go to Setup and Maintenance ==> Manage Tax Rule.

Creating Tax Rule for each Tax Classification Code under Each GST Taxes

Click on the ‘+’ icon to create the new Tax rules.

We have these below Tax Rates.

Local 5%

Local 12%

Local 18%

Local 28%

Tax Classification Code ‘Local 5%’ Will Split internally in two Tax Rates.

2.5% SGST

2.5% CGST

Tax Classification Code ‘Local 12%’ Will Split internally in two Tax Rates

6% SGST

6% CGST

Tax Classification Code 18% Will Split internally in two Tax Rates.

9% SGST

9% CGST

Tax Classification Code ‘Local 28% ‘tax Will Split internally in two Tax Rates.

14% SGST

14% CGST

As we can see above, each tax splits into two parts for SGST AND CGST, so we need to create the two tax rules for each Tax rate/Tax Classification code.

For Local 5% Tax Classification code We will create below Tax Rules. One for SGST & One for CGST.

1.Local 5% SGST Tax Rule

2.Local 5% CGST Tax Rule

For Local 12% Tax Classification code We will create below Tax Rules. One for SGST & One for CGST.

1.Local 12% SGST Tax Rule

2.Local 12% CGST Tax Rule

For Local 18% Tax Classification code We will create below Tax Rules. One for SGST & One for CGST.

1.Local 18% SGST Tax Rule

2.Local 18% CGST Tax Rule

For Local 28% Tax Classification code We will create below Tax Rules. One for SGST & One for CGST.

1.Local 28% SGST Tax Rule

2.Local 28% CGST Tax Rule