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Discussion on VAT related issue under ERP-ERP Implementation Guide

ð VAT calculation and accounting for Purchase transaction can be done in Oracle EBS.

ð VAT on final sale to end customer can be calculated and accounted in Oracle EBS.

ð VDS/TDS calculation with customization on cumulative calculation would be done in Oracle EBS.

ð VAT on all other transaction would be calculated in new VAT system(Customized Software).

ð Consolidated accounting entry journal would be prepared and entered by Finance team for this transactions.

ð All VAT reports and registers would be maintained in new VAT system (Customized Software).

ð Custom routines would be developed in Oracle to provide transactional data as required by new VAT system (Customized Software).

Action Items:

1) Finalization of VAT treatment on certain Business Transaction.

2) Providing format of data required by new VAT system (Customized Software Consultant).

3) Post finalization of point 1. Preparing functional spec with detailed accounting and calculation treatment on all VAT transaction within Oracle EBS .

Please let me know if any further points to include/exclude.
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