Reminder: Vendor Exemption Rules Can’t Be Created for Closed Accounting Periods

This notice is intended for all India Localization SuiteTax Engine SuiteApp Customers.

You are receiving this notification as a reminder that you can’t create vendor exemption rules for closed accounting periods in the India Localization SuiteTax Engine SuiteApp.

What is Changing?

There is no change in the functionality of vendor exemption rules in the India Localization SuiteTax Engine SuiteApp. This is just a reminder that you are unable to create a vendor exemption rule if the rule affects vendor bills in a closed accounting period. Because Tax Deducted at Source (TDS) is calculated for the full financial year, the SuiteApp must validate or adjust earlier vendor bills in the same financial year. This validation occurs even if the vendor exemption rule starts in an open period. Therefore, the related accounting period must be open for required tax adjustments or corrected TDS