GST Reversed Transaction of Non Recoverable RCM Tax is Not Populated in Repository upon Cancellation
(Doc ID 2321251.1)
Last updated on FEBRUARY 11, 2019
Applies to:Oracle Financials for India - Version 12.1.3 and later
Information in this document applies to any platform.
The Reversed transaction of Non Recoverable RCM tax should be populated in the Repository upon cancellation of the Invoice.
1 - Create Purchase Order for Service Type attaching a Non Recoverable RCM Tax
2 - Create Supplier Invoice matching to the Purchase Order
3 - Attached TDS Taxes
4 - Validated the Invoice
5 - Supplier’s Credit Memo and Standard Invoice to the Tax Authority are generated
Liability transaction populated in the Repository
6 - Cancel the Supplier's Invoice
7 - Standard Invoice and Credit Memo of Supplier and Standard Invoice to Tax Authority is then cancelled
8 - Note the Reverse Liability transaction is not populated in the Repository
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