GST Tax Category Setup:
I.USER SETUP
1. Create a new GST Responsibility – ( Oracle India Financial)
Navigator:- Navigator:- System Administrator > Security > User Define -> Oracle India Financial
Assign it with GST User
Set the Profile Option
Navigator:- System Administrator > Profile > System
II.Tax Configuration
Define Tax Regime
Define Tax Type
Define Tax Rate
Define Tax Categories
Define Tax Rules
Define Common Configuration
Define Specific Functionality
Define Document Sequencing
2-Define Regime
Navigator:- Oracle Finance > Tax Configuration > Define Regime
Fill Regime Details AND Save
3- Define Tax Type
In Tax Type We Create CGST Input & Output, SGST Input & Output & IGST.
Navigator:- Oracle Finance > Tax Configuration > Define Tax Type
CREATE IGST ( In Details Enable Recoverable tax & Applicable for offset)
In Accounting fill the details as below.
4-Define Tax Rate
Navigator:- Oracle Finance > Tax Configuration > Define Tax Rate
For IGST Input & Output Tax – IGST@12%
5-Define Tax Category
Navigator:- Oracle Finance > Tax Configuration > Define Tax Category
Create Tax Category same for other Categories. ( below is example for one category).
6-Define Tax Rule
Navigator:- Oracle Finance > Tax Configuration > Define Tax Rule
7- Define Common Configuration
Navigator:- Oracle Finance > Tax Configuration > Define Common Configuration
8-Define Specific Functionality
Navigator:- Oracle Finance > Tax Configuration > Define Specific Functionality
9-Define Document Sequencing
Navigator:- Oracle Finance > Tax Configuration > Define Document Sequencing
