GST Tax Type Rounding Off Option In GST
(Doc ID 2357896.1)
Last updated on AUGUST 11, 2022
Applies to:Oracle Financials for India - Version 12.1.3 and later
Information in this document applies to any platform.
Requirement for tax rates on particular sales transactions rounded to different level.
In GST, Tax rounding off options in tax rates as per requirement not provided which is earlier available in India localization which is very useful which enabled us to make use of rounding off options as
per our requirement while creating taxes.
The Tax rounding off is scrap sales which is earlier provided in India localization in Tax rate setup.
India Localization - Oracle Financials for India (OFI) - Goods and Services
Tax (GST) Configuration - EBS GST Infrastructure (Doc ID 2190026.1)
Page 15-16 under '7. Tax Configuration'.
In the GST Tax regime setup, It is already given rounded to decimals and
rounding factor is 2 so its showing now 2 decimals in tax.
But for one particular tax type which should be used for Scrap sales,
rounding off taxes is required (ie..zero decimals).
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