Monday 28 May 2018

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


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