Financials for India - EBS (MOSC)

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GST Tax Type Setup

edited Jun 21, 2017 12:53AM in Financials for India - EBS (MOSC) 1 commentAnswered ✓

Hi,

I need a few clarifications wrt Tax Setup for GST. Quick inputs will be much appreciated.

1. For taxes to be recoverable, do we need to set both Recoverable Tax and Applicable for offset as Yes or just Recoverable Tax needs to be set to Yes

2. In case of latter case above what is the use of Applicable for Offset

3. What is the use of Allow abatement?

4. What is the use of Set Tax Type for Reporting purposes only?

5. What is the use of Update Vendor on Transaction? Is it similar to third party taxes functionality in the pre-GST India Localization?

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