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RCM and Ineligible for ITC in India localization
How is the Reverse Charge Mechanism (RCM) and Ineligible for ITC configured and executed using the NetSuite India Localization SuiteTax Engine?
Upon installing the SuiteApp, we observed that the system automatically creates the relevant tax type and tax code for reverse charge and ineligible for ITC. Additionally, we noticed a 'Reverse Charge' and 'Ineligible for ITC' checkbox available within the GST rule configuration page, indicating built-in support for these tax handling.
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