Chapter 5: Oracle Fusion Tax Implementation

Hi friends, We are in the Oracle Fusion Tax Implementation series. This is the Lesson number 5 of this series. Lets start and learn how to Implement the Taxation in Oracle Fusion.

Intra States Tax Classification codes

1. Local 5%

2. Local 12%

3. Local 18%

4. Local 28%

Chapter 5: Oracle Fusion Tax Implementation

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

1. 2.5% SGST

2. 2.5% CGST

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

1. 6% SGST

2. 6% CGST

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

1. 9% SGST

2. 9% CGST

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

1. 14% SGST

2. 14% CGST

Inter States Tax Classification Codes

For All Inter State/ Other States Purchases We are creating these below Tax Classification codes. We can give any name as per our business Requirment and for easy identification. These are tax classification codes will be show in the Transaction Tax Window for apply.

1. Other State Purchase 5%

2. Other State Purchase 12%

3. Other State Purchase 18%

4. Other State Purchase 28%

For Tax Classification code ‘Other State Purchase 5%’ Tax, we are creating only single tax rate as the complete tax will be go Center Government.

1. 5%IGST

For Tax Classification code ‘Other State Purchase 12%’ Tax, we are creating only single tax rate as the complete tax will be go Center Government.

1. 12%IGST

For Tax Classification code ‘Other State Purchase 18%’ Tax, we are creating only single tax rate as the complete tax will be go Center Government.

1. 18%IGST

For Tax Classification code ‘Other State Purchase 28%’ Tax, we are creating only single tax rate as the complete tax will be go Center Government.

1. 28%IGST

As a Summary, we will create these below Tax Classification code

1. Local 5%

2. Local 12%

3. Local 18%

4. Local 28%

5. Other State Purchase 5%

6. Other State Purchase 12%

7. Other State Purchase 18%

8. Other State Purchase 28%

Chapter 5: Oracle Fusion Tax Implementation