Understanding Advanced Pricing for India Taxes
You define the tax calculations for India using the JD Edwards EnterpriseOne Advanced Pricing system. You use this system to define tax types based on the tax regimes, which include:
Excise
Sales
Service
Tax collected at source (TCS)
Value-added tax (VAT)
The system calculates the taxes for excise, sales, service, TCS, and VAT, and prints the information on an invoice when you sell a product or service. These taxes are part of the order-to-cash business process and the system creates separate records in the JD Edwards EnterpriseOne General Accounting system for each tax type.
The system calculates taxes when you enter sales orders or when you recalculate prices. Use the Sales Order Entry program (P4210) to enter sales orders and the Update Price program (R42950) to recalculate prices and costs.
You define the tax rates that the system applies for each tax type in the JD Edwards EnterpriseOne Advanced Pricing system. The system calculates the taxes based on:
Item base price plus discounts
Other tax types, also referred to as tax on tax
Maximum retail price (MRP)
Assessable value
Abatement or reduction of the base price
The JD Edwards EnterpriseOne Advanced Pricing system integrates with the JD Edwards EnterpriseOne India Localization system to:
Locate additional category codes for items and customers.
Locate tax rules and parameters.
Calculate tax on tax amounts.
Transfer excise taxes on purchase orders for dealers to sales orders for customers.