How To Map The Requirement Of Excise Rebate?
Last updated on SEPTEMBER 01, 2016
Applies to:Oracle Financials for India - Version 12.0.6 and later
Information in this document applies to any platform.
How to map the requirement of Excise rebate?
As per Rules18 - Rebate of Duty: Where any goods are exported, the Central Government may, by notification, grant rebate of duty paid on such excisable goods or duty paid on materials used in the manufacture or processing of such goods and the rebate shall be subject to such conditions or limitations, if any, and fulfillment of such procedure, as may be specified in the notification.
Export under rebate as follows:
- Taxes will be applied on sales order
- Should hit the RG23 part II and RG1 registers
- It should not be charged to Customer.
- Excise tax amount will be refunded in cash by custom authority after submitting Export documents.
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