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ORACLE FINANCIALS FOR INDIA

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

Oracle Financials for India enables customers to meet the specifictax and accounting requirements for the central excise, customs,

sales tax, value added tax, service tax, fringe benefit tax, tax

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 inIndia 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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Oracle E-Business SuiteThe Complete Solution

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

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.

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.

Copyright 2008, Oracle and/or its affiliates. All rights reserved.

This document is provided for information purposes only, and the contents hereof are subject to change without notice. Thisdocument is not warranted to be error-free, nor is it subject to any other warranties or conditions, whether expressed orally or

implied in law, including implied warranties and conditions of merchantability or fitness for a particular purpose. Wespecifically disclaim any liability with respect to this document, and no contractual obligations are formed either directly orindirectly by this document. This document may not be reproduced or transmitted in any form or by any means, electronic ormechanical, for any purpose, without our prior written permission.

Oracle is a registered trademark of Oracle Corporation and/or its affiliates. Other names may be trademarks of theirrespective owners. 0408

FINANCIALS FOR INDIA

SUPPORT INDIA TAX

REQUIREMENTS FOR

CUSTOMER PROCESSCYCLES IN THE DOMAINS

OF FINANCIALS, SUPPLY

CHAIN, INVENTORY,

MANUFACTURING, AND

DISTRIBUTION.

RELATED PRODUCTS:

Oracle General Ledger

Oracle Fixed Assets

Oracle Purchasing

Oracle Payables

Oracle OrderManagement

Oracle Receivables

Oracle Inventory

Oracle Manufacturing

(Discrete)

Oracle Process

Manufacturing

Oracle iProcurement

Oracle iSupplier

Oracle Project Billing and

Costing

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