8/14/2018 Document 2297959.
Copyright (c) 2018, Oracle. All rights reserved. Oracle Confidential.
GST - Process Claim functionality (Doc ID 2297959.1)
Modified: 17-Aug-2017 Type: WHITE PAPER
In this Document
Abstract
History
Details
Summary
APPLIES TO:
Oracle Financials for India - Version 12.1.1 and later
Information in this document applies to any platform.
ABSTRACT
This document will explain the Claim process for GST taxes.
HISTORY
Date: 17-Aug-2017
Author: Ashish Gupta
Description: GST - Process Claim Functionality
DETAILS
The Claim Process functionality for GST Taxes
SUMMARY
Prerequisite Setups for Recoverable Tax:
1. Recoverable Checkbox to be checked at Tax Type Setup
(N) Oracle Financials for India - Tax Configuration -> Define Tax Types
2. Item Classification - Recoverable attribute should be Yes for the particular Regime.
(N) Oracle Financials for India - Item Definition -> Item Classification
3. Claim Terms Setup
(N) Oracle Financials for India - Recovery Management -> Define Claim Terms
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4. Intended Use mentioned in the Claim Terms should match the Intended Use in the India Tax Details at Transaction.
Mandatory Setups for Process Claim
Following setup is required to be done first before starting to use ‘Process Claim’ functionality.
For this setup, new Seeded Reporting Type has been implemented.
Reporting Type Name: - GST Taxes
It has four reporting codes present(CGST/SGST/IGST/CESS).
All tax types are required to be classified with any of these reporting codes.
For that, reporting Code is required to be mentioned for all tax types which are in use. Below are the steps on how to do
that.
1. Go to ‘Oracle Financials India’ responsibility.
2. Navigate to Tax Configuration : Define Tax Type
3. ‘Tax Type India Localization’ form will open after following above navigation. Query for the tax type for which you want
to attach reporting code like the following:-
4. You will get the details related to that tax type. Click ‘Reporting Codes’ tab.
5. Enter field details as follows:-
a. Reporting Type Name:- “GST Taxes”
b. Reporting Code:- CGST/SGST/IGST/CESS based on type of the tax
c. Reporting Code Description:- Will be automatically populated based on reporting code
d. Start Date:- As required. Ideally, it should be 01-JUL-2017 as per GST appointed date.
6. Save the details.
This setup must be done for all tax types.
Process Claim form :
(N) Oracle Financials for India - Recovery Management -> Process Recovery
Mandatory fields:
Tax Regime Code - Regime Name
Tax Registration Number - The registartion number you want to claim
Document Type - Which Transaction process(Manual AP Invoice,Credit Memo,Debit Memo,Interorg Transfer,Payment and
Receipt)
The Tax Claim form will show the below details:
1. Action - Recover
Select this option and click on Process Button,the Claim Process will be completed.
2. Action - Reversal
For Claim Reversal select the Reversal Action and click on Process.
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The recovered amount will be reversed.
3. Ineligible Checkbox - Even though the Tax is recoverable but it is not eligible for recovery.
In some cases the Matching is not sucessfull,Supplier has not provided the Tax Invoice
Number,not eligible to take the recovery.
In these cases the Transaction is Ineligible.
The Whitepaper is in Progress and will be uploaded soon.
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