Software Solution for VAT

To meet the VAT requirements specified by the tax authorities, the JD Edwards EnterpriseOne programs enable you to:

• Enter the tax registration number for customers and suppliers.

• Define the VAT eligibility of an item.

• Create a sales order for the VAT-eligible item.

• Select an account for the purchases used for personal consumption.

• Claim the VAT credit from the government.

• Set up the deferred period for claiming the VAT credit on capital goods.

  Note: In some states, you can claim the tax paid for the purchase of capital goods over a period of 36 months, whereas in other states you can claim it over a period of 24 months.

• Print the tax invoices for the customers.

• Reverse the VAT recovered on returned goods.