Create Tax Group – A summary of the activity

This activity allows you to create a tax group.

A tax group is a unique group defined by you to identify the classification of the entities as per the tax legislation requirements. The following entities can be mapped to tax groups: Items, TCD Codes & Usage Ids. Tax groups are defined for a tax type – tax region combination indicating that for a tax type – tax region, the entity falls under this classification for tax calculation purposes.  You can also specify the period during which Entity (Item / TCD /Usage ID) – Tax Group mapping will be effective.

Provision to mark a tax group, as under protest is also available, if the classification is contested with the tax authorities. Further for computing unit rate based taxes, provision to specify tax UOM is also available.

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