Calculating TCS for Receipts

You can use the Calculate TCS on Receipts (R75I828) batch program to calculate the Tax Collected at Source (TCS) for receipts received from the customer. This batch program considers those receipts for which the TCS Applicable flag was set to Yes.

Based on the values set in the TCS Rate Master program, the system calculates the TCS amount.

The system uses the values stored in the Receipts Header table (F03B13) and Receipts Header Tag table (F75I313T) to calculate a customer's year to date sales aggregate. When the calculated sales aggregate crosses the threshold set in TCS Rate Master table (F75I864), the system calculates the TCS amount. If the customer has not set up the PAN information in the Tax Registration Details table (F75I210), the system calculates a penalty amount for the customer. The system then creates a tax invoice for the calculated TCS amount and the penalty amount.

The report validates the G/L date range, G/L account, and the TCS setup and displays an error if the values entered in the processing option of R75I828 are invalid. Once a receipt is processed, it will not be picked up in the next report execution.