Financials for India - EBS (MOSC)

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OFI: Query on Changes/Correction & Updation of GST Item Master

edited Apr 18, 2019 12:03AM in Financials for India - EBS (MOSC) 10 commentsAnswered

We have setup the GST item master as below.

> What is the best way to correct/change the GST item master created/setup wrongly/by mistake. Eg Wrong GST Item Classification, mistake in BCD or HSN

> What is the best way to update the GST item master due to changes in tax laws. Eg the item GST classification changed from 12% to 5% or BCD changed from 10% to 20% or changes in HSN code

- How we can perform mass correction/changes & updation

- What is the impact for the past transaction performed with older/wrong GST item master setup.

- Whether system will give retrospective effect or will impact only for newer transactions for the above.

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