GST only transaction

There are various scenarios where a VAT charge is levied even though there may be no goods charge. The most common is a deemed supply such as where goods are supplied free of charge (FOC),whereby a VAT only Sales Invoice would be generated.

If the vendor absorbs this VAT cost, then a General Ledger journal that allows the processing of VAT may be used for such VAT corrections.

If the customer is to pay the VAT, then the VAT only Sales Invoice would be addressed to the customer.

India specific

Parts Tax only

The requirement is to enter, calculate and invoice multiple levels of tax on parts in India.

For a 'parts only' job category, no labor, direct transactions, expenses, mileage bookings or charges of any other kind can be applied to category of job.

At invoicing the retail value of the parts are used to calculate taxes.

The invoice value is zero and posting to the Accounts Receivable is prevented.

A legitimate invoice number is assigned in the same number range as all other job invoices.

The output of this new process is a sequentially numbered invoice, but a zero value invoice with a list of parts with retail values and taxes, but no goods total.

No postings are made to accounts receivable as this is not a customer invoice; but the taxes are posted to the general ledger.

A Parts Tax Only job category type is required.

How Infor meets the requirement

This requirement is not currently supported by this ERP for this country.