EBI9.1+:India Swachh Bharat Cess And Krishi Kalyan Cess Effective From 15-NOV-2016
Last updated on JULY 28, 2016
Applies to:PeopleSoft Enterprise SCM Billing - Version 9.1 to 9.2 [Release 9]
PeopleSoft Enterprise FIN Global Components - Version 9 to 9 [Release 9]
Information in this document applies to any platform.
Question :- India Swachh Bharat Cess and Krishi Kalyan Cess is a new tax in India effective from November 15, 2015.
How this can be configured within PeopleSoft Financials 9.2. The requirement for this new tax is to configure a new 0.5% SBT tax based on the net invoiced amount in addition to the current Service Tax.
This SBT tax should be classified into a separate GL account from the standard rate Service Tax.
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