GST: Non Recoverable Tax On Purchase Receipt Not Updated To The Item Cost On Receiving Date
(Doc ID 2946360.1)
Last updated on MAY 20, 2023
Applies to:Oracle Financials for India - Version 12.1.3 and later
Information in this document applies to any platform.
Non-Recoverable Tax on Purchase Order Receipt not updated to the Item cost the Receiving Date.
Material Purchased on 13-Sep-2022 With Non-Recoverable Taxes.
But after Certain days on 01-Oct-2022 Non-Recoverable Taxes is Updated and added with Item Cost.
For this reason When the material is sold after GRN (13-Sep-2022), the COGS Amount is being considered without Non-Recoverable Taxes and on 01-Oct-2022 item Cost is very highsuddenly.
The item cost should have updated with the non-recoverable tax on the same date it was delivered.
The issue can be reproduced at will with the following steps:
1. Navigate to India Local Purchasing > Receipts.
2. Perform receiving of goods.
3. Add non-recoverable taxes on it from Tools > India Tax Details.
4. Confirm taxes and save receipt.
5. Go to receiving transactions and deliver the receipt.
6. Find that the item cost is not updated with the non-recoverable tax amount.
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