Calculating GST for Bill Adjustments
In the Billing system, you can create a full bill adjustment or a line adjustment. When creating a full bill adjustment, you can create just a full bill credit, or create a full bill credit with a full bill rebill. You can modify the rebill to reflect any differences that are necessary from the original bill.
When creating a line adjustment, you can create a credit line for a selected line, or create a credit line and a rebill line for a selected line. Additionally, when creating line adjustments, you can create a net adjustment for a selected line. When creating a net adjustment, you copy the initial values of the original bill line and modify those specific values on the line to make a net change to the original billing. For example, if an original bill line contains ten items at 2 USD each, but you intend the bill line to contain nine items at 2 USD each, you can make a net adjustment to credit one item at 2 USD each.
Calculating GST on Credit Bills and Credit Lines
The Bill Adjustment process credits the entire amount, including taxes. Whenever you create a credit adjustment (full bill credit or credit line), the system uses the taxes that are copied from the original invoice. You can make no modifications on a credit bill or adjustment credit line, and PeopleSoft Billing performs no tax calculations on adjustment credit bills or adjustment credit lines. However, the system uses the tax amounts that are on these lines to calculate the total GST amounts at the bill header level.
Calculating GST on Rebills and Rebill Lines
To determine the impact of modifications that are made in bill entry to a rebill, refer the tables that are in the Modifying GST on the Bill Header and Modifying GST on Bill Lines sections.
Currency Conversion for India GST Credit Bills
When creating invoice lines from an existing invoice, if all invoice lines are selected, the system creates a credit bill, assigns an invoice type of ACR, and an adjustment type of REG. For India business units, credit bills that have an invoice type of ACR, the system uses the exchange rate of the original bill for the Currency Conversion process. For all other types of invoices, the system uses the current conversion rate for the Currency Conversion process.