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TDS(Tax Deduct at Source) Adjustment For RTV (Return to Vendor) Debit Memo Invoices (Doc ID 2801368.1)

Last updated on AUGUST 29, 2021

Applies to:

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

Goal

For Return to Vendor (RTV) cases what is applicability of TDS reversal and threshold balance calculation?

Business Scenario:

1. ONE Standard Invoice/ERS generated against vendor those threshold already exceed 50 lakh
Inv Basic amount - 5 Lakh i.e TDS charged 0.1% as 500 RS on it.

2. Somehow Rate changes/Quality/wrong tax selection of GST any one of them user need to RTV of that Standard Invoice.

3. System auto RTV - Debit note created in -5Lakh

4. How TDS has been reversed & threshold amount also ( 55 Lakh - 5 Lakh)?

Solution

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In this Document
Goal
Solution
References


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