TCS for Vehicle Purchase — oracle-mosc

Financials for India - EBS (MOSC)

MOSC Banner

TCS for Vehicle Purchase

edited Oct 5, 2018 5:00AM in Financials for India - EBS (MOSC) 16 commentsAnswered

Hi,

How to create TCS Tax Code in Oracle Financials for India for Vehicle Purchase. Our Business requirement given below for further clarifications.

1. We are purchasing vehicles from Dealers.

2. If any vehicle value is greater than Rs. 10 Lakhs, we need to pay 1% TCS to the details.

3. This TCS Value should not be added in vehicle Cost, i.e when we capitalize this vehicle as asset do not consider this TCS value.

4. This TCS value should goes to TCS Receivable account and to be adjust with TDS Collection & Payments.

How to achieve this requirement in Oracle Financials for India ( After GST).

Howdy, Stranger!

Log In

To view full details, sign in to My Oracle Support Community.

Register

Don't have a My Oracle Support Community account? Click here to get started.

Category Leaderboard

Top contributors this month

New to My Oracle Support Community? Visit our Welcome Center

MOSC Help Center