EBI 9.2: How To Apply 1% TCS Charges On The Invoices Raised As Per India GST Compliance
(Doc ID 3055260.1)
Last updated on OCTOBER 23, 2024
Applies to:
PeopleSoft Enterprise SCM Billing - Version 9.2 to 9.2 [Release 9]Information in this document applies to any platform.
Goal
How to apply 1% TCS charges on the Invoices raised as per India GST compliance.
When any asset sale Invoice gets created then 1% TCS is applicable on Invoice value (including GST), and same should get print on Invoice.
For eg, If Invoice is of 1000 INR and 18% GST is applicable, then Invoice Gross value is 1000+180 = 1180. On above 1% TCS (tax collected by the seller) is applicable which is 11.80.
Total Invoice value comes to 1180 + 11.80 = 1191.80 and this should get printed on Invoice.
Solution
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In this Document
| Goal |
| Solution |