Recommendation for GST 2 Rationalization of GST Tax Rates – Compliance Enablement Guidelines

GST Council in its 56th meeting proposes GST 2, the purpose is to rationalize the existing GST rates. Council has proposed 2 basic slabs of 5% and 18% along with 40% slab which is applicable for specified sin goods and services instead of 4 slabs of 5%, 12%, 18% and 28%.

In order to assist customers, the below document is prepared and published which contains the solution approach recommendations on compliance enablement approach with demo screen shot as to how one can achieve this requirement:
Oracle Financials for India: GST 2.0 – Rationalization of GST Tax Rates – Compliance Enablement Guidelines for New Tax Rates Applicable (Doc ID 3103507.1)

Currently since this is configurable hence there is no patch or any data fix is issued by development.