E-Business Tax (MOSC)

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Update Tax recovery rates at ap invoice distribution level

edited Jun 20, 2017 12:21PM in E-Business Tax (MOSC) 3 commentsAnswered

Hello All,

Could someone assist me with the below query please:

scenario:

Suppose the tax recovery rate for cost centre 'XYZ' from 01-Mar-2017 to 15-Mar-2017 = 0% (Default) and an AP invoice is created on 10-mar-2017 with the default recovery rate of 0% for that particular cost centre, where as the tax recovery rate was supposed to be calculated at 18%.

Now tax recovery rate is updated to 18% on 15-Mar-2017 for same cost centre 'XYZ' with tax recovery rate start date as 01-Mar-2017 i.e. tax recovery rate of 18% is now effective from 01-Mar-2017.

As per the updated recovery rates effective from 01-Mar-2017, recovery rate calculated as 0% on above AP invoice is now wrong, and the invoice should calculate the recovery rate on the basis of new rate of 18%.

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