Tax Category – Oracle Financials for India GST

Tax Category:

Tax Category is a Group or Set of Tax Which Will Default to a Transaction based on certain rules.

Navigation

Oracle Financials for India —> Tax Configurations—> Tax Category

This is a Operating Unit Dependent Setup.

Precedence is Expected to Always be “0” Which Denotes the Assessable Value of Goods or Service in GST.

Tax Rules – Oracle Financials for India GST India

Tax Rule Determines the Applicability of Various Tax Category on a Purchase or Sales Transaction Based on Certain Basis such as Item Classification, Application, Bill To, Ship To, Ship From, Customer Reporting Code, First Party Registration Number, First part Reporting Code, Item Reporting Code, Supplier Reporting Code, Third Party Registration Number.

Navigation:

Oracle Financials for India —> Tax Configurations—> Tax Rules

Define Tax Rate – Oracle Financials for India GST India

Each Tax Type Can have Different Tax Rate Depending Upon the Various Status and Statutory Advisories.

Navigation : Oracle Financials for India —> Tax Configurations—> Tax Rate

This Setup is Operating Unit Dependent.

 

Add Other Relevant Information’s in Accounts and Reporting Tabs and Save the Tax Rate.

 

Query to Fetch Item Transaction Defaults in Oracle R12

Below Mentioned Query Will Fetch Item Transaction Defaults. For Filtering Based in Organization or Item Use the Highlighted Lines with suitable Values. 

SELECT MSIB.SEGMENT1 as ITEM,
  OOD.ORGANIZATION_CODE ,
  MLSS.Meaning as DEFAULT_FOR_SUB,
  MLSL.Meaning DEFAULT_FOR_SLOC,
  MISD.subinventory_code AS DEFAULT_SUB,
  MILD.subinventory_code AS DEFAULT_SUB_SLOC,
  MILK.CONCATENATED_SEGMENTS
FROM MTL_ITEM_LOC_DEFAULTS MILD,
  MTL_SYSTEM_ITEMS_B MSIB,
  ORG_ORGANIZATION_DEFINITIONS OOD,
  MTL_ITEM_SUB_DEFAULTS MISD,
  MFG_LOOKUPS MLSS,
  MFG_LOOKUPS MLSL,
  MTL_ITEM_LOCATIONS_KFV MILK
WHERE MILD.INVENTORY_ITEM_ID = MSIB.INVENTORY_ITEM_ID
AND MISD.INVENTORY_ITEM_ID  = MSIB.INVENTORY_ITEM_ID
AND MILD.ORGANIZATION_ID     = MSIB.ORGANIZATION_ID
AND MISD.ORGANIZATION_ID     = MSIB.ORGANIZATION_ID
AND MILD.ORGANIZATION_ID     =MISD.ORGANIZATION_ID (+)
AND OOD.ORGANIZATION_ID      = MSIB.ORGANIZATION_ID
AND MILK.ORGANIZATION_ID     = MILD.ORGANIZATION_ID
AND MILD.SUBINVENTORY_CODE   = MISD.SUBINVENTORY_CODE(+)
AND MILD.DEFAULT_TYPE        = MLSL.Lookup_CODE
AND MISD.DEFAULT_TYPE        = MLSS.LOOKUP_CODE
and MILD.DEFAULT_TYPE        = MISD.DEFAULT_TYPE(+)
AND MLSS.LOOKUP_TYPE         = ‘MTL_DEFAULT_SUBINVENTORY’
AND MLSL.LOOKUP_TYPE         = ‘MTL_DEFAULT_LOCATORS’
–AND OOD.ORGANIZATION_CODE    = ‘XXXXXX‘
–AND MSIB.SEGMENT1           IN (‘XXXX’)
AND MILD.LOCATOR_ID        = MILK.INVENTORY_LOCATION_ID
 

Define Tax Regime – Oracle Financials for India GST India

What is a Regime ?

The Set of Tax Rules that Determines the Treatment of Taxes administered By Tax Authority.

There can be Multiple Tax Regime in one Country or Single Tax Regime In one Country.

India Was Administered With Multiple Tax Regime Till 01st July 2017 With Excise for Manufacturing, VAT for Manufacturing and Value Addition, Service Tax for Service Related Transaction.

After 01st July 2017, All the Multiple Regimes Has been Subsumed By One Regime Goods and Service Tax.

Navigation

Oracle Financials For India —>Tax Configurations—>Regime

Pre Requisites for Creating GST Tax Regime:

1.Tax Authority — A Government Entity That regulates tax Laws administers and audit taxes.
2.Reporting Codes are Optional

Disclaimer
The purpose of this Blog is to share my own knowledge, exposure & observation on Oracle Apps.
A useful Guide to Young Beginners in simple language.
Few Posts are not fully compiled by me, but referring various expertise’s Blogs.

Please visit this Blog regularly for updates and add your valuable feedback / comments in order to improvise..

Define Tax Authority – OFI GST India

GST Tax Authority is used to settle the tax liability.  Supplier should be created with Type as “India Tax Authority”.

Incase the India Tax Authority Type is Not Available in List of Values of Supplier Form, Go to Lookups and Search for Lookup type “VENDOR TYPE”, Application “Purchasing” and Add the Tax Authority Type.

Define Tax Authority

Navigation:

Purchasing —>Supply Base—> Suppliers

  

Disclaimer
The purpose of this Blog is to share my own knowledge, exposure & observation on Oracle Apps.
A useful Guide to Young Beginners in simple language.
Few Posts are not fully compiled by me, but referring various expertise’s Blogs.

Please visit this Blog regularly for updates and add your valuable feedback / comments in order to improvise..

Oracle Financials for India – GST India Regime to Rate Flow

Regime to Rate Flow is a Setup Procedure in Oracle E Business Suite as a Part of Tax Configuration.

We will Define Regime till Tax Rate and Associated Various Other Entities such as Taxes, Tax Authorities, Rules Etc.,

One Tax can only be Governed By one Tax Authority, But on Tax Authority can Govern one or More Taxes.

Oracle India GST Solution has below Mentioned Setups to be done for Regime to Rate Flow.

1.Define Regime
2.Define Tax Type
3.Define Tax Status
4.Define Tax Rate
5.Define Tax Category
6.Define Item Classification
7.Define Tax Rules

We will See The Above Mentioned Setups One By One in Upcoming Posts.

Disclaimer
The purpose of this Blog is to share my own knowledge, exposure & observation on Oracle Apps.
A useful Guide to Young Beginners in simple language.
Few Posts are not fully compiled by me, but referring various expertise’s Blogs.

Please visit this Blog regularly for updates and add your valuable feedback / comments in order to improvise..

Define Tax – Oracle Financials for India GST India

What is Tax ?

Tax is a Classification of Charge Imposed by Government through Tax Authority


    New Taxes can be Created Using the Define Tax Type Form. In the GST Regime, There are Three Major Taxes which would be created

1. Central Goods and Service Tax –CGST

2. State Goods and Service Tax –SGST

3. Integrated Goods and Service Tax – IGST 

Navigation

Oracle Financials For India —>Tax Configuration—>Define Tax Type

Disclaimer
The purpose of this Blog is to share my own knowledge, exposure & observation on Oracle Apps.
A useful Guide to Young Beginners in simple language.
Few Posts are not fully compiled by me, but referring various expertise’s Blogs.

Please visit this Blog regularly for updates and add your valuable feedback / comments in order to improvise..

Units of Measurement Conversion

Unit of measure conversions are numerical factors that enable you to perform transactions in units other than the primary unit of the item being transacted.

Conversion Can be

1.       a conversion common to any item

2.       a conversion for a specific item within a unit of measure class (Intra-class)

3.       a conversion for a specific item between unit of measure classes (Inter-class)

Unit of measure conversions are not organization-specific

 
Oracle E Business Suite Navigation

Inventory —>Setup —>Units of Measure –> Conversions

 

Disclaimer
The purpose of this Blog is to share my own knowledge, exposure & observation on Oracle Apps.
A useful Guide to Young Beginners in simple language.
Few Posts are not fully compiled by me, but referring various expertise’s Blogs.

Please visit this Blog regularly for updates and add your valuable feedback / comments in order to improvise..

UOM Classes In Oracle R12

Units of Measure Class:

Units of Measure Class is a Group of Unit of Measure with Similar Characteristics.

Units of measure classes is the first step in unit of measure management.

Each units of measure defined must belong to a unit of measure class.

Each class has a base unit of measure

The base unit of measure is used to perform conversions between units of measure in the class

The base unit of measure should be representative of the other units of measure in the class, and generally one of the smaller units

Units of measure classes are not organization-specific

Oracle R12 Navigation for UOM Class Creation 

Inventory —>Setup —>Units of Measure—>Classes 

Disclaimer
The purpose of this Blog is to share my own knowledge, exposure & observation on Oracle Apps.
A useful Guide to Young Beginners in simple language.
Few Posts are not fully compiled by me, but referring various expertise’s Blogs.

Please visit this Blog regularly for updates and add your valuable feedback / comments in order to improvise..