Maintain Tax Category Maintain Tax Class

Maintain Tax Class

This page allows you to create, modify, or to delete a tax class. Tax class is associated with each of the Tax Type-Tax Community combination. However when there is a need to have more Tax Class, this can be defined through this page. You can also modify or delete a tax class through this page.

Tax classes identify the sub-transaction type for reporting purposes and are specified by the government. Examples of VAT class are: Goods Purchase, Goods Sales. For TDS it will be Advertisement, Rent.

Select the “Maintain Tax Class” link under the “Maintain Tax Category” page.

The “Maintain Tax Class” page appears.

Enter the following field:

Tax Class

Use the drop-down list box to select the required option. You can select from either “New” or “Existing”. Tax classes identify the sub-transaction type for reporting purposes and are specified by the tax authorities.

Use the drop-down list box select “New” if you require to add a new class and, “Existing” if you require to modify the details regarding a tax class. The system defaults the value “New” in this field.

Under “Existing” new tax class cannot be added.

Note: On choosing “Existing” in the Tax Category drop-down list, the “Category Details” multiline fills up with details of the existing tax categories. You can modify the values in the multiline, if required.

Note: If value “New” is chosen, the multiline will appear blank. You can now enter the required value for creating the new tax class.

Enter details in the following fields in the “Class Details” Multiline:

Tax Class	The code of the tax class required (Alphanumeric, 40). You can create a new tax class by entering the code.
Desc.	The textual description pertaining to the tax class (Alphanumeric, 100). Enter new value, or modify existing value as required.
Calculate Tax	Use the drop-down list box to choose the required option. The drop-down list contains. “Yes”, “No”, and blank.
Tax Type	Use the drop-down list box to enter a new value. Tax type is a code to indicate the type of tax for example VAT, TDS.
Tax Community	Use the drop-down list box to select the required tax community. Tax community refers to the government authority that administers the tax laws for example EU, USA and India.. Tax community should be valid for the tax type and tax class selected.
Class Type	Use the drop-down list box to enter a new class type. The drop-down list contains all the tax class types in the company database. A code to indicate the type of tax class.

Note: When Tax Class is entered, the system checks whether Description, Calculate Tax, Trade Type, Tax Type, Tax Community and Category Type are entered, else the system will display error message. For a tax type - tax community combination there must be no repetition of tax class. Records to be deleted must be in status “Active”. The system will not permit deletion if transactions are pending in the tax class.

Check the box in the “Select” column of the multiline against the tax class that you require to save or delete.
Click “Save Details” pushbutton to save the new or modified tax Class you have selected, and once saved, the tax class acquires “Active” status.
Click the “Delete” pushbutton to delete the selected tax class.

The system also displays the following fields:

Last Modified By	The login ID of the user who last modified the tax class details.
Last Modified Date	The date on which the tax class details were modified.

To proceed, carry out the following

Select the “Map/Unmap Category and Class” link at the bottom of the page to map a tax category to a tax class or unmap a tax category from a tax class.