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GST: Tax Amount not getting rounded as per Rounding Factor setups defined under Tax Regime (Doc ID 2686037.1)

Last updated on JULY 01, 2020

Applies to:

Oracle Financials for India - Version 12.1.1 and later
Information in this document applies to any platform.

Symptoms

ACTUAL BEHAVIOR
---------------
Tax Amount not getting rounded as per Rounding Factor setups defined under Tax Regime

EXPECTED BEHAVIOR
-----------------------
Tax Amount should be rounded as per Rounding Factor setups defined under Tax Regime

STEPS
-----------------------
The issue can be reproduced at will with the following steps:
1. Login to Oracle Financials for India responsibility.
2. Go to Tax Configuration > Define Regime.
3. Query for the GST Regime and define Rounding Factor as 5 decimal points.
4. Create an AR Transaction and apply GST taxes.
5. Go to Tools > India Tax Details form.
6. Notice that tax amount is rounding till 2 decimal points only.

BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, users cannot determine the correct tax liability resulting into statutory penalty by GST Tax Authorities.

Changes

 

Cause

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In this Document
Symptoms
Changes
Cause
Solution
References


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