Oracle EBS GST

The Tax defaulting, calculation and accounting requirement arising from the Central Excise, Customs, Sales Tax and Income Tax regimes.

Indian indirect tax regimes transitioned to GST Regime in July of  2017 where majority of the indirect taxes have been condensed in to the Goods and Services Tax (GST). The India GST is a country-level destination based indirect tax Applied on Supply of goods or services as against the previous concept of tax on the manufacture of goods, on sale of goods, or on provision of services. 

Based on the principle of destination based consumption taxation, the state portion of the revenue from GST goes to the consuming state Central GST (CGST) and State GST (SGST/UTGST) is applied in the course of intra-state supplies where both the taxes are computed on the same taxable basis Integrated GST (IGST) is levied on inter-State supply. IGST is applicable for Interstate supplies as well as

for cross-country supplies (import and export).

GST is applicable on supply of all goods and services based on Harmonized System of Nomenclature (HSN codes).  

Oracle Financials for India now supports the indirect tax regime through Goods and Service Tax (GST). 

 

Following are the basic setups required to use Oracle Financials for India:

Defining tax configuration

Defining reporting types

Defining Tax Configuration:

Using Tax Configuration, It can be define different tax regimes based on business requirements, 

the tax types, tax codes and so on.

Following things need to do in the tax configuration:

Defining Regime, Tax Types, Tax Rates, Tax Categories, Tax Rules, Common Configurations, Specific Functionality, Party Registration, Creating Item Classification, Item Category, Document Sequencing, Interface Tax Mapping Setting Up Exemptions.

GST Regime:-

Configuration:Regime, 
Responsibility:Oracle Financials For India, 
Navigation:Tax Configuration ->Define Regime
Tables:-
APPS.JAI_REGIMES
APPS.JAI_REGIMES_V
APPS.JAI_TAX_ROUNDING
APPS.JAI_REPORTING_ASSOCIATIONS

Example:-

SELECT DISTINCT 
jr.REGIME_CODE
,jr.REGIME_NAME
,jr.EFFECTIVE_FROM  "Start Date"
,jr.EFFECTIVE_TO "End Date"
 ,decode(jr.REGIME_TYPE,'T','Transaction Tax','W','Withholding Tax')  "Regim Type"
 ,jrv.TAX_AUTHORITY_DESC "Tax Authority"
 ,jrv.TAX_CALENDAR_DESC  "Tax Calendar"
 ,jr.CONVERSION_TYPE  "Conversion Rate Type"
 ,decode(jtr.ROUNDING_BASIS,'TAX','Tax amount','TAXABLE','Taxable amount')  "Rounding Basis"
 ,decode(jtr.ROUNDED_TO, 'ND','Nearest Decimal') "Rounded To"
 ,jtr.ROUNDING_RULE
 ,jtr.EFFECTIVE_FROM "Rounding-Start Date"
 ,jtr.EFFECTIVE_TO "Rounding-End Date"
 ,jra.REPORTING_TYPE_NAME
 ,jra.REPORTING_CODE
 ,jra.REPORTING_CODE_DESCRIPTION
 ,jra.EFFECTIVE_FROM "RC Start Date"
 ,jra.EFFECTIVE_TO "RC End Date"
 FROM APPS.JAI_REGIMES jr
,APPS.JAI_REGIMES_V jrv
,APPS.JAI_TAX_ROUNDING  jtr
, APPS.JAI_REPORTING_ASSOCIATIONS  jra
WHERE 1=1
AND jr.REGIME_ID=jrv.REGIME_ID
AND jr.REGIME_ID=jtr.REGIME_ID(+)
AND jtr.REGIME_ID=jra.REGIME_ID(+);