(IND) Set up excise tax components [AX 2012]

Updated: November 6, 2012

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2

NoteNote

This topic has not been fully updated for Microsoft Dynamics AX 2012 R2.

Use the Tax components form to define the components for excise duty and set up the excise claim percentage. You can use the excise credit earned in a purchase transaction to offset the excise liability that is incurred from the sale of goods.

The amount of credit that can be offset is different for capital purchases and for noncapital purchases. For capital purchases, the declared percentage of the credit earned is deferred to the next financial year and you can use the remaining amount in the current financial year. For noncapital goods, the whole amount of excise credit earned is available to offset the excise liability in the current financial year.

You must also define tax setoff, which will offset the amounts of the various components of the excise duty in the excise payable account with the amounts in the recoverable accounts of the tax components, regardless of the tax type.

  1. Click General ledger > Setup > Sales tax > India > Tax components.

  2. Select Excise in the Tax type field.

  3. Press CTRL+N to create a new line in the lower pane of the window.

  4. Define the tax component for the excise tax type in the Tax component field.

  5. Enter the description for the tax component in the Description field.

  6. Click Claim percentage to open the Claim percentage form.

  7. Enter the starting date of the period for making the excise claim in the From date field.

  8. Enter the ending date of the period for making the excise claim in the To date field.

  9. Select the RG register in the RG Register field from the following options:

    • RG23A – For noncapital purchases

    • RG23C – For capital purchases

    NoteNote

    According to the legal requirement, the claim percentage is defined as 50% for RG23C and 100% for RG23A.

  10. Specify the percentage of the earned credit that must be used in the current financial year in the Percentage field. The remaining percentage of amount will be deferred to the next financial year.

  11. Press CTRL+S or close the form.

  12. Click Tax setoff rule in the Tax components form to open the Tax setoff rule form.

  13. Enter the order of priority for the tax component used to set off the original excise duty component in the Column field.

  14. Select an appropriate tax component in the Setoff component field to offset the original excise duty component.


Announcements: To see known issues and recent fixes, use Issue search in Microsoft Dynamics Lifecycle Services (LCS).

社区附加资源

添加
显示: