Setting Up a GST Rule
Access the GST Rule Setup form.
- GST Rule
Enter a value from the GST Rule UDC table (75I/RL) that identifies the GST rule.
- Recoverable
Enter a user-defined code from the Recoverable Flag UDC table (75I/RF) to indicate whether the GST type is recoverable. Values are:
N: Not Recoverable
Y: Recoverable
If you enter Y in this field, the system enables the Reverse Charge fields, and you must enter values in these fields.
- Effective Date
Enter the date when the GST rule becomes effective.
- Expiration Date
Enter the expiration date for the GST rule.
- Reverse Charge
Enter a user-defined code from the Reverse Charge Flag UDC table (75I/RV) to indicate whether reverse charge applies for the GST type.
The system enables this field only when you enter a value of Y in the Recoverable field. This is a mandatory field if enabled.
If you enter Y in this field, the system enables the Provider Percentage and Receiver Percentage fields.
- Provider Percentage
Enter a number that identifies the percentage of tax that should be assessed or paid to the corresponding tax authority by the goods or service provider. Enter the percentage as a whole number and not as the decimal equivalent. For example, to specify 7 percent, enter 7, and not .07.
The system enables this field only when you enter a value of Y in the Reverse Charge field.
- Receiver Percentage
Enter a number that identifies the percentage of tax that should be assessed or paid to the corresponding tax authority by the goods or service receiver. Enter the percentage as a whole number and not as the decimal equivalent. For example, to specify 7 percent, enter 7, and not .07.
The system enables this field only when you enter a value of Y in the Reverse Charge field.