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OFI-GST: How To Handle Receipt Tolerances Scenario For Recording Input Tax Credit (Doc ID 2702908.1)

Last updated on AUGUST 13, 2021

Applies to:

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

Goal

Business Case:

User has enabled the receipt tolerances setup.

  1. A Purchase order is created by the buyer for 100 units.
  2. Tax point basis setup is: DELIVERY
  3. Received the consignment for 90 units. Actual number of units received might be less than that of the order quantit due to intransit loss.
  4. System allows to claim the input tax credit only for the receiving quantity.
  5. Supplier sends the bill / invoice for ordered quantity: 100 units.
  6. In this context, how to claim the input tax credit for the differential quantity of 10 units.

Please clarify.

Solution

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In this Document
Goal
Solution
References


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