OFI-GST: Tax On Invoice Price Change For PO Matched Invoices Going To IPV Account. Please Clarify (Doc ID 2280743.1)

Last updated on JUNE 27, 2017

Applies to:

Oracle Financials for India - Version 12.1.3 and later
Information in this document applies to any platform.

Goal

1. Create a PO with Tax Qty 1000 Price 10 PO Total Amt 10000

2. Confirm Tax at the time of receiving Qty Qty 1000 Price 10 PO Total Amt 10000

3. Match Invoice to PO with Price as 15., i.e. increase of Rs 5.

On validating Invoice Price Variance A/c, Tax on the price increase is getting accounted in Invoice Price Variance instead of Interim Recovery Account.

We want the tax on Price Change to hit Interim Recovery Account & not IPV A/c
 

Solution

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