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R12.1 Oracle Financials forIndia

Student Guide

D64809GC10

Edition 1.0

February 2010

D65490



Copyright © 2010, Oracle and/or its affiliates. All rights reserved.

Disclaimer

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owners.

Author

Deepak Seth

Technical Contributors and Reviewers

Baburaj Vallikad Sreekumar, Narasimha Sadashiv Pai, Srinivas Gadde, Mallikarjuna GuptaBhogavalli

This book was published using: Oracle Tutor




R12.1 Oracle Financials for India Table of Contents

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Table of Contents

Oracle Financials for India Solution Overview ..............................................................................................1-1 Oracle Financials for India Solution Release 12 Overview ............................................................................1-3 Objectives ......................................................................................................................................................1-4

Agenda ...........................................................................................................................................................1-5 Oracle Financials for India Solution ................................................................................................................1-6 Oracle Financials for India Solution: Benefits .................................................................................................1-8

Agenda ...........................................................................................................................................................1-9 Oracle Financials for India Solution: Business Requirements ........................................................................1-10 Oracle Financials for India: Business Requirements ......................................................................................1-11 Oracle Financials for India Solution: Business Requirements ........................................................................1-21

Agenda ...........................................................................................................................................................1-22 Oracle Financials for India: Key Concepts ....................................................................................................1-23 Key Concepts: Tax Authority ..........................................................................................................................1-25 Key Concepts: Tax Regime ...........................................................................................................................1-26 Key Concepts: Tax Types ..............................................................................................................................1-27 Key Concepts: Tax Jurisdiction ......................................................................................................................1-28

Key Concepts: Third-Party Transactions ........................................................................................................1-29 Key Concepts: Threshold Maintenance .........................................................................................................1-30 Key Concepts: Tax Categories.......................................................................................................................1-31 Key Concepts: Tax Precedence .....................................................................................................................1-32 Oracle Financials for India: Configuration Components .................................................................................1-33

Agenda ...........................................................................................................................................................1-38 Oracle Financials for India: Tax Architecture .................................................................................................1-39

Agenda ...........................................................................................................................................................1-40 Receivable Transaction: Autoinvoice Generated Through Order Management .............................................1-41 Summary ........................................................................................................................................................1-45

Oracle Financials for India Solution Tax Configuration ...............................................................................2-1

Oracle Financials for India Solution Release 12 Tax Configuration ..............................................................2-3 Objectives ......................................................................................................................................................2-4

Agenda ...........................................................................................................................................................2-5 Tax Users .......................................................................................................................................................2-6 Multi-Org Setup ..............................................................................................................................................2-8 Lookup Codes ................................................................................................................................................2-10 Overview of Tax Configuration .......................................................................................................................2-12

Agenda ...........................................................................................................................................................2-14 Excise Duty ....................................................................................................................................................2-15 Excise Duty Organization Additional Information ..........................................................................................2-17 Excise Duty Define Sub Inventory Location ...................................................................................................2-27 Excise Duty Define Excise Tax Regime ........................................................................................................2-29 Excise Duty Define Item Localization Information ..........................................................................................2-30 Excise Duty Define Tax Codes......................................................................................................................2-34 Excise Duty Define Tax Categories ................................................................................................................2-37 Excise Duty Define Item Category .................................................................................................................2-39 Excise Duty Define Excise Authority ..............................................................................................................2-41 Excise Duty Define Party Additional Information ............................................................................................2-42 Excise Duty Define Bond Register .................................................................................................................2-47





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Excise Duty Create Regime to Rate Setup in Base Application .....................................................................2-50 Customs Duty Tax Regime Setup Steps ........................................................................................................2-53

Agenda ...........................................................................................................................................................2-57 Service Tax ....................................................................................................................................................2-58 Service Tax Define Additional Organization Information ................................................................................2-60 Service Tax Define Service Tax Regime ........................................................................................................2-61 Service Tax Define Tax Codes.......................................................................................................................2-65 Service Tax Define Tax Categories ................................................................................................................2-67 Service Tax Define Item Category List ...........................................................................................................2-69 Service Tax Define Service Tax Authority ......................................................................................................2-71 Service Tax Define Party Additional Information ............................................................................................2-72

Agenda ...........................................................................................................................................................2-74 Tax Deduction at Source ................................................................................................................................2-75 Tax Deducted at Source: Review Lookup Codes ...........................................................................................2-77 Tax Deducted at Source: Define TDS Regime ...............................................................................................2-79 Tax Deducted at Source: Define Income Tax Authority .................................................................................2-81 Tax Deducted at Source: Define Tax Codes ..................................................................................................2-82 Tax Deducted at Source: Define TDS Year Info .............................................................................................2-85 Tax Deducted at Source: Define TDS Threshold ...........................................................................................2-87 Tax Deducted at Source: Define Supplier Additional Information...................................................................2-90 Tax Deducted at Source: Define TDS Threshold-Exceptional Setup .............................................................2-92 Tax Deducted at Source: Enable Global Descriptive Flex Field .....................................................................2-94

Agenda ...........................................................................................................................................................2-95 Value Added Tax ............................................................................................................................................2-96 Value Added Tax Define VAT Regime ...........................................................................................................2-98 Value Added Tax Define Item Classification ..................................................................................................2-102 Value Added Tax Define Claim Terms ...........................................................................................................2-106 Value Added Tax Define VAT Invoice Sequence ...........................................................................................2-108 Value Added Tax Define Party Additional Information ...................................................................................2-110 Value Added Tax Define VAT Authority .........................................................................................................2-111 Value Added Tax Define Tax Codes ..............................................................................................................2-112 Value Added Tax Define Tax Categories .......................................................................................................2-113 Value Added Tax Define Item Categories ......................................................................................................2-114 Sales Tax .......................................................................................................................................................2-115

Agenda ...........................................................................................................................................................2-118 Tax Collected at Source .................................................................................................................................2-119 Tax Collected at Source AR Receipt Class ....................................................................................................2-121 Tax Collected at Source Transaction Type ....................................................................................................2-122 Tax Collected at Source Transaction Source .................................................................................................2-124 Tax Collected at Source TCS Regime ...........................................................................................................2-127 Tax Collected at Source Item Classification ...................................................................................................2-130 Tax Collected at Source TCS Tax Authority ...................................................................................................2-133 Tax Collected at Source Define Tax Codes ...................................................................................................2-134 Tax Collected at Source Define Tax Categories ............................................................................................2-136 Tax Collected at Source Define Item Categories ...........................................................................................2-138 Tax Collected at Source Define TCS Threshold.............................................................................................2-140 Tax Collected at Source Define Customer Additional Information..................................................................2-142

Agenda ...........................................................................................................................................................2-145 Depreciation as Per Income Tax Act ..............................................................................................................2-146





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Depreciation as Per Income Tax Act Lookup Codes for Blocks of Assets ....................................................2-148 Depreciation as Per Income Tax Act Depreciation Periods ...........................................................................2-150 Depreciation as Per Income Tax Act Opening WDV Balances .....................................................................2-152 Summary ........................................................................................................................................................2-154

Oracle Financials for India Solution Transaction Flow .................................................................................3-1 Oracle Financials for India Solution Release 12 Transaction Overflow .........................................................3-3 Objectives ......................................................................................................................................................3-4

Agenda ...........................................................................................................................................................3-5 Excise: Procure to Pay Cycle .........................................................................................................................3-6 Excise: Order to Cash Cycle ..........................................................................................................................3-12 Excise: Miscellaneous Features .....................................................................................................................3-17

Agenda ...........................................................................................................................................................3-23 Custom Duty ..................................................................................................................................................3-24

Agenda ...........................................................................................................................................................3-26 Process Flow Under Service Tax Regime ......................................................................................................3-27 Service Tax: Procure to Pay Cycle .................................................................................................................3-28 Service Tax: Distribution ................................................................................................................................3-33 Service Tax: Order to Cash Cycle ..................................................................................................................3-34 Service Tax: Settlement .................................................................................................................................3-37 Service Tax: Other Features ..........................................................................................................................3-39 Service Tax: Reports ......................................................................................................................................3-40

Agenda ...........................................................................................................................................................3-42 Process Flow Under Tax Deduction at Source Regime .................................................................................3-43 Processing Invoices .......................................................................................................................................3-44 Processing Payments ....................................................................................................................................3-47 TDS Certificate Generation ............................................................................................................................3-49 Generate ETDS Return ..................................................................................................................................3-50 TDS: Reports .................................................................................................................................................3-52

Agenda ...........................................................................................................................................................3-54 Process Flow Under Value Added Tax Regime .............................................................................................3-55 Value Added Tax: Procure to Pay Cycle ........................................................................................................3-56 Value Added Tax: Order to Cash Cycle .........................................................................................................3-62 Value Added Tax: Manual Entry.....................................................................................................................3-65 Value Added Tax: Settlement ........................................................................................................................3-67 Value Added Tax: 4% Vat Reversal ...............................................................................................................3-69

Agenda ...........................................................................................................................................................3-71 Tax Collected at Source: Transaction Cycle ..................................................................................................3-72 Tax Collected at Source: Settlement ..............................................................................................................3-75 Tax Collected at Source: Certificate ...............................................................................................................3-79 Tax Collected at Source: Returns ..................................................................................................................3-81

Agenda ...........................................................................................................................................................3-82 Depreciation Calculation ................................................................................................................................3-83 Oracle Financials for India: Other Features ...................................................................................................3-85 Summary ........................................................................................................................................................3-108

Oracle Financials for India Solution New Features .......................................................................................4-1 Oracle Financials for India Solution Release 12............................................................................................4-3 Objectives ......................................................................................................................................................4-4

Agenda ...........................................................................................................................................................4-5





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New Features in Release 12 ..........................................................................................................................4-6 Descriptive Flex Field Replaced with UI Forms ..............................................................................................4-9 New Features in Release 12 ..........................................................................................................................4-19 Summary ........................................................................................................................................................4-25





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Preface

Profile

Before You Begin This Course

• Basic Knowledge of business accounting concepts

• Basic Knowledge of Indian Tax Structure• Familiarity with data processing concepts and techniques

Prerequisites

• R12 eBusiness Suite Essentials for Implementers

• Basic Knowledge of R12 Procure to Pay and Order to Cash Cycle

How This Course Is Organized

This is an instructor-led course featuring lecture and hands-on exercises. Online demonstrationsand written practice sessions reinforce the concepts and skills introduced.





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Related Publications

Oracle Publications

Title Part Number

Oracle Financials for India Implementation Guide E13657-02

Oracle Financials for India User Guide E13658-02

Additional Publications

• System release bulletins

• Installation and user’s guides

• Read-me files

• International Oracle User’s Group (IOUG) articles

• Oracle Magazine

• Typographic Conventions

• Typographic Conventions for Words within Regular Text





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Typographic Conventions

The following two lists explain Oracle University typographical conventions for words thatappear within regular text or within code samples.

1. Typographic Conventions for words within regular text

Convention Object or Term Example

Courier new, User input;

commands;column, table, and

schema names;

functions;

PL/SQL objects;

paths

Use the SELECT command to view

information stored in the LAST_NAME

column of the EMPLOYEES table.

Enter 300.

Log in as scott

Initial cap Triggers;

user interface object

names, such as

button names

Assign a When-Validate-Item trigger to

the ORD block.

Click the Cancel button. Italic Titles of

courses and

manuals;

emphasized

words or phrases;

placeholders or

variables

For more information on the subject see

Oracle SQL Reference Manual

Do not save changes to the database.

Enter hostname, where hostname is the

host on which the password is to be changed

Quotation

marks

Lesson or module

title referenced

within a course

This subject is covered in Lesson 3, “Working with

Objects.”

2. Typographic Conventions for words within code samples

Convention Object or term Example

Uppercase Commands,

functions

SELECT employee_idFROM employees

Lowercase

italic

Syntax variables CREATE ROLE role

Initail cap Forms triggers Form module: ORDTrigger level: S_ITEM.QUANTITY

item

Trigger name: When-Validate-Item . . .

Lowercase Column names,table names

Filenames,

PL/SQL objects

. . .OG_ACTIVATE_LAYER

(OG_GET_LAYER ('prod_pie_layer'))

. . .SELECT last_name

FROM employees;

Bold Text that must be

entered by a user

CREATE USER scott IDENTIFIED BY tiger;





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3. Typographic Conventions for Oracle Application Navigation Paths

This course uses simplified navigation paths, such as the following example, to direct youthrough Oracle Applications.

(N) Invoice > Entry > Invoice Batches Summary (M) Query > Find (B) Approve

This simplified path translates to the following:

1. (N) From the Navigator window, select Invoice then Entry then Invoice BatchesSummary.

2. (M) From the menu, select Query then Find.

3. (B) Click the Approve button.

Notations:

(N) = Navigator

(M) = Menu

(T) = Tab

(B) = Button(I) = Icon

(H) = Hyperlink

(ST) = Sub Tab

4. Typographic Conventions for Oracle Application Help System Paths

This course uses a “navigation path” convention to represent actions you perform to findpertinent information in the Oracle Applications Help System.

The following help navigation path, for example—

(Help) General Ledger > Journals > Enter Journals

—represents the following sequence of actions:

1. In the navigation frame of the help system window, expand the General Ledger entry.

2. Under the General Ledger entry, expand Journals.

3. Under Journals, select Enter Journals.

4. Review the Enter Journals topic that appears in the document frame of the help systemwindow.

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