ORACLE DATA SHEET

ORACLE FINANCIALS FOR INDIA

Oracle Financials for India enables customers to meet the specific tax and accounting requirements for the central excise, customs, sales tax, value added tax, service tax, fringe benefit tax, tax
KEY FEATURES
India-specific Tax Engine Multi Tax Regime Support Central Excise Duty Customs Duty Sales Tax / VAT Service Tax Fringe Benefit Tax TDS TCS Tax Defaulting Tax Calculation Tax Accounting Statutory Reports Management Reports

deducted at source (TDS), and tax collected at source (TCS) tax regimes in India. Oracle Financials for India support is extended over Procure to Pay, Order to Cash, Project Costing, and Billing business cycles. Oracle Financials for India also provides the users with valuable information that can be used both for statutory and management reporting.
India-specific Tax Engine Oracle Financials for India allows the user to define multiple taxes for different tax types such as excise, customs, value added tax (VAT), and service tax. The user can also track other add-on costs such as freight, insurance, and discounts. The user can also specify ad-hoc taxes. Provision for generating third party invoices for expenses such as freight, insurance, and handling charges is also built into the product. Inclusive mode of tax calculations where certain taxes are included in the item price itself, is supported. Users can define the precedence (up to ten levels) required to take care of tax-on-tax type of calculations including cumulative and compounded tax calculations.

Figure 1. Supporting India Specific Tax Calculations

Support for Central Excise Requirements Oracle Financials for India support requirements under the Central Excise Regime in India such as the capture of excise registration details, defining excise taxes and rates under various excise tax types, support to assessable value based tax calculations for supplier or customer invoices, support to CENVAT Tax recovery tracking (RG Registers) and reporting, support to manufacturing and trading

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scenarios, handling of supplier or customer returns, support to inventory and intercompany movements of items, and support to outside processing of excisable items. Support for Customs Duty Requirements Oracle Financials for India support requirements under the Customs Duty Regime in India such as defining customs duties and rates under various customs duty types, support to CENVAT recovery tracking and reporting for countervailing duty (CVD), and capture and application of bill of entry (BOE) for imported goods. Also supported is export under bond, duty drawback, and letter of credit on export of goods. Support for Sales Tax and VAT Requirements Oracle Financials for India support requirements under the sales tax or VAT regime in India such as capturing registration details, defining taxes and rates under various tax types, support to VAT recovery tracking, setoff and reporting, and tax forms tracking. Support for Service Tax Requirements Oracle Financials for India support requirements under the Service Tax Regime in India such as capturing registration details, defining taxes and rates under various tax types, support to service tax recovery tracking, and setoff and reporting. Support for Income Tax Requirements Oracle Financials for India support requirements under the Income Tax Regime in India such as capturing Income Tax Registration details of Suppliers or Customers, defining Taxes and Rates under various Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) Tax types including Surcharge, Cess, support to TDS calculation and deductions on Supplier Invoices (threshold based ) and Customer invoices, support to TCS calculations and deductions on Customer Invoices, and provisions for statutory reporting including electronic filing of returns. Product also supports the depreciation calculations of Fixed Assets under the provisions of Income Tax Act and related statutory reporting. Support for Fringe Benefit Tax Requirements Oracle Financials for India support Fringe Benefit Tax requirements under the Income Tax Regime in India such as capturing Fringe benefit types and related account assignments, defining taxes and rates for fringe benefit types including surcharge, Cess and support to FBT calculation. Other Major Features Oracle Financials for India also support standard or average costing of items including the non-recoverable taxes, Retroactive pricing (including the Taxes) of supplier or customer invoices, encumbrance accounting (for non-recoverable taxes) in procure to pay cycle, web-based supply chain products such as Oracle iProcurement or Oracle iSupplier, and tax handling in Oracle Project Costing and Oracle Billing.

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KEY BENEFITS

Oracle E-Business SuiteThe Complete Solution Oracle E-Business Suite enables companies to efficiently manage customer processes,

FINANCIALS FOR INDIA SUPPORT INDIA TAX REQUIREMENTS FOR CUSTOMER PROCESS CYCLES IN THE DOMAINS OF FINANCIALS, SUPPLY CHAIN, INVENTORY, MANUFACTURING, AND DISTRIBUTION.

manufacture products, ship orders, collect payments, and moreall from applications that are built on unified information architecture. This information architecture provides a single definition of your customers, suppliers, employees, productsall aspects of your business. Whether you implement one module or the entire suite, Oracle E-Business Suite enables you to share unified information across the enterprise so you can make smarter decisions with better information.

RELATED PRODUCTS:
Oracle General Ledger Oracle Fixed Assets Oracle Purchasing Oracle Payables Oracle Order

Contact Us For more information about Oracle Financials for India, please visit www.oracle.com or call +1.800.ORACLE1 to speak to an Oracle representative.

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