Financials for India - EBS (MOSC)

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Configuring India Tax Rates

edited Aug 21, 2009 3:01AM in Financials for India - EBS (MOSC) 1 commentAnswered
 Hello, For India tax configuration, there are three ways it seems to define taxes:

Tax Codes.  Here you define how the tax code will calculate taxes, what is recoverable, the GL account, etc. 

Tax Categories.  Here you can group multiple tax codes together defining precedences in calculating the taxes if one tax amount is dependent on another tax's calculation.

Tax Types.  These are taxes that are assigned to a Service Tax or VAT regime.  There are no tax rates associated with the tax types unless a tax type is assigned a 'parent tax type'.  However, the 'parent tax type' does not not have a % rate assigned to.

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