(IND) Set up tax components for customs
Important
This content is archived and is not being updated. For the latest documentation, see Microsoft Dynamics 365 product documentation. For the latest release plans, see Dynamics 365 and Microsoft Power Platform release plans.
Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2
Note
This topic has not been fully updated for Microsoft Dynamics AX 2012 R2.
You can set up tax components for customs and define a claim percentage for a tax component in the Claim percentage form. You can then create and update a tax setoff rule in the Tax setoff rule form to define the setoff components to set off the tax liability for a specific customs tax component.
You can offset the amounts in the excise payable account with the amounts in the recoverable accounts for the tax components of excise, as well as other tax components.
Define a customs tax component
Click General ledger > Setup > Sales tax > India > Tax components.
Select Customs in the Tax type field.
Press CTRL+N to create a new line.
Enter a unique identification for the customs tax component in the Tax components field.
Enter a description for the customs tax component in the Description field.
Define a claim percentage
Click Claim percentage to set up the claim percentage in the Claim percentage form.
Press CTRL+N to create a new line on the Overview tab.
Enter the starting and ending dates of validity for the excise claim percentage in the From date and the To date fields.
Select the RG register to define the claim percentage in the RG Register field. The options are:
RG23A – RG register for noncapital purchases
RG23C – RG register for capital purchases
Enter the recoverable percentage for the RG register in the Percentage field.
Close the Claim percentage form to return to the Tax components form.
Define a tax setoff rule
Note
You do not need to define the setoff rule for a customs tax component.
Click Tax setoff rule to open the Tax setoff rule form to define the setoff components to set off the tax liability for a specific customs tax component.
Press CTRL+N to create a new line on the Overview tab.
Select the tax component that the original customs tax component is set off against in the Setoff component field.
Note
The original customs tax component that the setoff components are defined for is displayed in the Tax component field on the General tab,
Click Up or Down to change the priority order of setoff components that are defined to set off the tax amount for the customs tax component. The priority is displayed in the Column field.
Press CTRL+S or close the form.