Tax Registers

Tax registers are maintained to record tax details for each tax type of the financial company. According to Indian tax laws, you must maintain these registers. The registers must be submitted to the tax authorities for each tax year. LN generates the following tax register reports:

• Purchase register
  The report displays the tax details of the purchase invoices. The report includes the details of business partner, invoice number, claimable amounts and so on.
• You can print the report in two formats. The first format includes the generic details, the second format is a customized report based on tax positions linked. To print this report, use the Print Purchase Register (tfacp2400m00l) session. You can also generate the report to view the amount of purchase tax set against the claimable tax amounts.
• Sales Register
  The report displays the details of sales invoices for each state. You can print the report in two formats. The first format includes the generic details, and generate the report with multiple line LR details of the shipment. You must select the Multiple LR line details check box, in the Print Sales Tax Register (tfacr2400m00l) session to print the report with the multiple line LR details.
• In second format you can print the report based on tax positions linked; you must select the Based on Tax position check box to link tax positions.
• VAT Register
  You must maintain the register with the details of the VAT transactions of each state for a particular period .
• If indirect tax type is VAT, you must debit the tax amounts for purchased items and credit the tax amounts for sales items when the indirect tax type is VAT and CST. The report includes the invoice details, registration numbers, name of the state and so on. To print this report, use the Print VAT Register (tfgld1410m00l) session.
• Service Register
  You must maintain the register with the details of the service tax transactions. You must credit the sales invoice amounts and debit the purchase invoice amounts.
• The transactions of service tax on transportation is also included in the same register. You must also show the tax balance amount due to the government.
• You must print the reports based on the Registration Number Sequence(Own) selected.
• When the non-singular tax codes are used in service tax transactions, LN prints the service tax registers in the following order of non-singular tax code:
  • Service tax.
  • E-CESS on service tax.
  • SHE-CESS service tax.
• To print this report use the Print Service Tax Register (tctax9435m00l) session.
• TDS Register/ TCS Register
  You must maintain the register with the details of the withholding (TDS) tax/ TCS amount collected from the business partner and the amount due to the government.
• To print the report, use the Print TDS Register (tfacp2403m00l) session/ Print TCS Register (tfacr2403m00l) session.