Entering statutory tax details
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In this page, you can modify the statutory tax details of the supplier.
Select the "Statutory Tax Default Details" tab to enter or modify the statutory tax details of the supplier.
Enter the following fields in the “Default Details” group box:
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Tax # |
A unique number which identifies the tax which is applicable to the parts supplied by the selected supplier. |
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Tax Variant # |
A unique number which identifies the variant for the tax number specified in the "Tax #" field. |
Note: For statutory accounting purposes, you can specify the Tax number and Tax Variant number, if the “Statutory Tax Computing & Accounting Required” field is set as “Yes” in the “Finance Set Up” business component.
Ensure the following:
The Tax number and Tax Variant number is in “Active” status as defined in the “Taxes, Charges and Discounts” business component
The Tax number is of TCD Type “Tax”.
The Tax number and Tax Variant number is mandatory, if a value is entered in any one of the fields
The Tax Variant number is mapped to the Tax number as defined in the “Taxes, Charges and Discounts” business component
Click the “Get Details” pushbutton to retrieve the tax details.
The system displays the following fields in the “Tax Attributes” group box for the Tax number and Tax Variant number combination:
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Tax Key |
The combination of Tax number and the Tax Variant number. |
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Tax Appropriation |
The computation logic, which is “Exclusive” or “Inclusive” of the Tax Type. Example: “Exclusive”. |
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Applicability |
The event on which the Tax is applicable. Example: “Purchase” or “Sales”. |
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Tax Nature |
The nature of the Tax, which identifies if the Tax is payable or if it is null. Example: “Payable” |
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Tax Type |
The type of the Tax for which the statutory details are entered. Example: “EU VAT” |
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Tax Incidence |
The event during which the Tax is applicable. Example: “On Invoicing” or “On Delivery”. |
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Tax Category |
The geographical location to which the Tax is applicable. Example: “Foreign Purchase” |
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Tax Class |
The entity on which the Tax is applied. Example: Goods or Services. |
Note: If the “Statutory Tax Computing & Accounting Required” field is set as “Yes” in the “Finance Set Up” business component, the Tax number and Tax Variant number set in this page will be the default Tax key for the supplier during invoicing.
Select the "TCD Details" tab to enter or modify the TCD details of the supplier.
Select the "Supplier Tax Registration Details" tab to enter or modify the tax registration details of the supplier.
Mapping supplier TCD details – An overview
Taxes, Charges and Discounts (TCD) refer to various additional charges that you can add or subtract from the amount payable to the supplier. This page allows you to map TCD (Taxes, Charges and Discounts) details to the selected supplier. You can map TCD codes and TCD variant codes that are already defined in the “Create TCD Codes” activity of the “Taxes Charges and Discounts” business component. The system displays the TCD description, TCD Variant description, TCD type, basis and the TCD rate, in this page.
“Create TCD Code” activity in the “Taxes Charges and Discounts” business component.
You can modify the TCD mapped to the supplier. You can map only those TCD, which are already defined in the system.
Enter a valid TCD code in the “TCD #” field.
Enter a valid TCD variant in the “TCD Variant #” field.
Enter a valid Tax # and Tax Variant # combination in the “Statutory Tax Defaults Details” tab page if the statutory accounting is required.
Enter Registration # applicable for an Address ID and Tax Type combination in the “Statutory Tax Registration Details” tab page.
Click the “Edit Supplier TCD Mapping” pushbutton, to map the TCD to the selected supplier.