Chapter 9: Oracle Fusion Tax Implementation

Hi friends, We are in the Oracle Fusion Tax Implementation series. This is the Lesson number 9 of this series. Lets start and learn how to Implement the Taxation in Oracle Fusion.

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.

Chapter 9: Oracle Fusion Tax Implementation

Creating SGST 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).

Chapter 9: 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

Chapter 9: 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

Chapter 9: Oracle Fusion Tax Implementation

Chapter 9: Oracle Fusion Tax Implementation