Managing Tax for Inventory Transactions

This page allows you to apply taxes during interstate stock transfers in accordance with the Indian GST. Tell me more.

Select the “Manage Tax for Inventory Transactions” activity under the “Stock Maintenance” business component.

The “Manage Tax for Inventory Transactions” page appears.

Enter the following in the “Document Details” Group box:

Document Type	Use the drop-down list box to select the Document Type. The system lists the following values: “Stock Transfer Issue” and “Stock Transfer Receipt”. The system leaves the field blank, by default.
Document #	The number specifying the Document which could be Stock Transfer Issue or Stock Transfer Receipt.

Click the “Get” pushbutton to fetch and display the details of the respective document.

Note: The details of the documents are displayed only when the document is in confirmed status.

Select the “View Document” link provided alongside to view the “View Stock Issue” / “View Stock Transfer Receipt” page.

The system displays the following fields:

Document Status	The status of the Stock Issue / Stock Transfer Receipt Document.
Tax Applicability	The applicability of tax for the selected /entered Document #. Note: For Stock Transfer Issue, Tax applicability is Sales. For Stock Transfer Receipt, Tax applicability is Purchase.
Doc. Amount	The total document amount of the selected /entered document # Note: For Stock Transfer Issue, it is the total issue value of the document. For Stock Transfer Receipt, it is the total Receipt value of the document (Total Issue value - Lost value).
Ref. Doc. Type	The reference document type of the selected/entered document #, which is the Stock Transfer Order.
Ref. Doc. #	The reference document # of the selected/entered document #, which is the Stock Transfer Order #.
Total Tax Amount	The total tax amount incurred for the selected/entered document #. Note: When the records in the multiline are saved, then the field gets updated as the sum of total tax amounts for all the save records in the multiline.

The system displays the following in the “Tax Details” multiline:

Line #

The unique number generated by the system, to identify the row in the multiline.

Enter the following:

Tax Applied On?

Use the drop-down list box to specify to which the tax is applied to. The system lists the following values: “Document” and “Part”. The system leaves the field blank, by default.

Line # / Part #

Use the drop-down list box to specify the Line # / Part # to which the tax is incurred. The system lists all the Part # that are available in the selected document. The system displays the blank value, by default.

Quantity

Issued/ Receipt quantity of the selected Part #.

Note: For Stock Transfer Issue document, it is the issued quantity.

For Stock Transfer Receipt, it is the receipt quantity.

The system displays the following:

UOM

Stock UOM of the selected Part # available in the Part administration Business Component.

Enter the following:

Tax #	The Tax # is a unique identifier denoting the taxes. Help Facility available.
Tax Variant #	The code identifying the variant of the Tax. Help Facility available.
Taxable Amount	The taxable amount of the Part # / Document.
Tax Rate	The tax rate of the Part # / Document.

The system displays the following:

Tax Amount

The Tax Amount is calculated by the system by applying Taxes, Charges and Discounts specified on the Taxable Amount.

Enter the following:

Currency

Use the drop- down list box to select the PO Currency. The system lists all the currency codes that are in Active status i.e. Base Currency and the Currencies which have conversion defined to Base Currency.

The system displays the “Saved Value” by default.

Note: The already saved value is also loaded, even if the Currency code is inactive.

Remarks

The textual Description.

The system displays the following:

Mfr. Part #	The manufacturer Part # of the selected Part # available in the Part Administration Business Component.
Part Description	The textual description of the selected Part #.
HSN Code	The HSN Code that is mapped to the selected Part # in the Part Groups.
Tax Description	The textual description of the tax.
Tax Variant Description	The textual description of the Tax Variant.
Last Modified by	The name of the user who last modified the tax record of the multiline.
Last Modified Date	The date on which the tax record of the multiline was last modified.

Click the “Compute” pushbutton to compute the Tax Amount.
Click the “Save” pushbutton to save the records if the tax details are modified.
Click the “Confirm” pushbutton to update the Total tax Amount with the sum of total tax amount of all the saved records in the multiline.
Select the “Print Tax Invoice” link provided alongside to print the Tax Invoice.

The system displays the following in the “Record Statistics” group box:

Created by	The name of the user who created the tax record.
Created Date	The date on which the tax record was created.
Last Modified by	The name of the user who last modified the tax record.
Last Modified Date	The date on which the tax record was last modified.

Managing Tax for Inventory Transactions– An Overview

This activity allows you to manage tax for Stock Transfers. You can retrieve the Tax details of the Stock Transfer Document and then, new tax can be added or an existing tax record can be deleted or tax rate can be varied.