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Oracle Financials India Localization- Export Under Rebate

Discussion in 'Oracle Financials' started by shankaer, Apr 30, 2015.

  1. shankaer

    shankaer Guest


    My client plans to the adopt the practice of ‘Export Under Rebate’ in which they export the goods by utilizing the balances available in RG23A/RG23C.

    They charge excise with regular excise rates but these duties are not charged to the customer but charged to the Rebate Receivable account.

    They expect the following accounting entries from Oracle Financials:

    Create AR Invoice for Customer without the taxes included. Then create separate invoice in the name of the government(setup as a customer) with the taxes. The entries are created as below:

    Invoice for Customer:
    Customer account.....Dr. Rs.100
    Sales Cr. ........... Cr. Rs.100

    Invoice to government (For the purpose of rebate):
    Rebate receivable .....Dr. Rs.10.3
    Excise Paid/Payable.... Cr. Rs.10.3

    Assumption: Invoice amount is 100 and the excise amount is 10.3.

    Has anyone worked on this functionality? Anybody know how this can be achieved in Oracle?

    Thanks in advance,