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This page allows you to create a tax code and also associate a tax rate to the tax code.
Select the “Create Tax Code” link under the “Tax Rule Definition” business component.
The “Create Tax code” page appears.
Enter details in the following fields in the “Tax Code Details” group box:
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Tax Code |
A Tax Code is a unique code that is defined by the user to identify a tax (Alphanumeric, 10) Mandatory. Enter the code of the new tax you require to create. |
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Description |
Textual description pertaining to the tax code (Alphanumeric, 40). Mandatory. Enter the description for the tax code you require to create |
The system displays the following field in the “Tax Code Details” group box:
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Status |
The status of the tax code. On creating a tax code, the status becomes “Active” |
Enter details in the following fields in the “Tax Code Details” group box:
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Tax Type |
Use the drop-down list box to select the required tax type under which the tax code is to be created. Tax type is the type of tax, for example VAT and TDS. The field displays the first value of tax type in the list as default on launch of the page. |
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Tax Community |
Use the drop-down list box to select the required tax community under which the tax code is to be created. Tax community is the government authority that administrates the tax laws for example, India, EU and USA. . The field displays the first value of tax community for the tax type as default on launch of the page. |
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Tax Region |
Use the drop-down list box to select the required tax region under which the tax code is to be created. Tax region is the place where the tax declaration is required to be made. The field displays “ALL” as default on launch of the page. The system loads the field with all the tax regions defined for the tax type. |
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Code Classification |
Use the drop-down list box to select the classification for the tax code. You can select from options “Regular” or “Surcharge.” |
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Code Type |
Use the drop-down list box to select the required code type for the tax code to be created. The field displays “Regular” as the code type as default on launch of the page. If surcharge on tax is to be paid for the tax type selected, the system loads the code type list box with both “Regular” as well as “Surcharge” options. |
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Tax Basis |
Use the drop-down list box to select the required tax basis for the tax code is to be created. The field displays “PERCENTAGE” as the code type as default on launch of the page. If unit rate is applicable, the list box lists both the choices of percentage and unit rate. |
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Tax UOM |
If Tax Basis is 'Unit Rate', Tax UOM is mandatory. |
Enter details in the following fields in the “Rate Details “ multiline:
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UnitRate Percentage |
Rate per unit or the percentage applicable. Enter the appropriate value. |
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From Date |
Where "From" date is entered, system checks whether Unit Rate/Percentage field is entered. |
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To Date |
If more than one Unit Rate/Percentage for a Tax Code is defined, system computes the To Date as follows: To Date = From Date of succeeding Unit Rate/Percentage for the Tax Code less one day. |
Click the “Create Tax Code” pushbutton to create the new tax code.
The system displays details of the new tax code created, assigns status “Active” to the created code.
The system also displays the following fields:
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Created By |
The login ID of the user who created the tax code. |
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Created Date |
The date on which the tax code was created. |
Note: Unit Rate/Percentage given must not be negative. The code given should not already exist in the database. From date of the succeeding record entered in the multiline must be later than the "from" date of the earlier record.
