Define item Classification

Navigation: - Oracle Financials for India -> Item Define -> Define Item Classification

 

Select the i) Operating unit -> [Select the Operating Unit]

                  ii) Organization -> [Select the Organization]

                  iii) Item Name -> [Chose the item code]

Then click on New button

 

Fill up the header information

                  i) Organization -> [Select the Organization]

                  ii) Item Name -> [Chose the item code]

                  iii) Item Classification -> Goods/Service

 

Assign the item with regime (Assign the item with all 3 regimes): -

Select the Tax regime

Give the attribute value for

Recoverable = ‘Y’

Then Save the record

Now assign the items with the other three regimes in same way

 

 

Assign the HSN code

Go to Reporting codes Tab

Select i) Reporting Usage -> Legal Reporting

ii) Reporting Type Name -> HSN Code Type for GST /GST_SAC_CODE_ITEM [HSN for Goods and Capital Goods and SAC code for Service]

iii) Reporting Code -> Select the ‘HSN Code’ from List of Value for goods and Capital Goods and ‘SAC Code’ from List of Value for Service

iv) Start Date -> 01-JUL-2017