Oracle
SCM Functional Interview Questions & Answers – India Localization – Part III
What is Bond
Register?
The calculation of ED & updates of excise registers
are based on the setup made in the define bond register. Before making this
setup, you need to define the order types & transaction sources.
Excise transactions are classified into the following
categories:
1. Domestic with Excise
2. Domestic without excise
3. Export with Excise
4. Bond Register (Export under bond)
Why to create Excise
invoice number and document Sequence? What are the concurrent involved and to
run the same for a shipment?
Without document sequence excise & VAT cannot be claimed.
For Excise, “India – Excise Invoice Generation” & delivery
number to be provided as parameter for generation.
For VAT, “India – VAT Invoice Generation / Accounting”
& registration value to be provided.
How to insert taxes
in AP and AR invoice?
Following concurrent are to be triggered:
For AP: “India to insert tax for pay on receipt”
For AR: “Local concurrent for processing order lines to
AR”
What is Bonded
Sub-inventory and what is the use of it?
Excise related transactions & records will be updated
only for those subinventories which are identified as bonded for manufacturing
organizations.
Example:
If bonded sub-inventory is not defined, then claim cannot
be made and the excise & VAT recoverable will go into the material cost. As
a result, the cost of material will increase.
What is RG Consolidation?
RG consolidation (excise) is performed to make sure that
our balances available in RG registers are adjusted against PLA register &
to find out the liability to be paid to the tax authority of excise.
What are the sources
used to import Excise, Service Tax and VAT into GL?
Sources used to import into GL:
For Excise: Purchasing India
For VAT: VAT India
For ST: Service tax India
During the PO Return
will the taxes be reversed?
Yes, the taxes will be reversed.
Where to see the receipt
accounting entry and delivery accounting entry?
Receipt accounting entry: (After the receipt and the
delivery).
Accounting entry can be viewed in the Receiving
Transaction Summary
Navigation:
India Local Purchasing > Oracle Purchasing > Receiving
> Receiving Transaction Summary
Delivery Accounting Entry:
Accounting entry can be viewed in Material Transaction.
Navigation:
India Local Inventory > Oracle Inventory > Transaction
> Material Transaction
Can we have the same
invoice number for Excise and VAT?
Yes. We can have the same invoice number for Excise &
VAT
How do differentiate
between manufacturing org and trading org?
When navigating to the org additional information, the
accounting information will be grayed out for trading org while the trading
information will be grayed out for manufacturing org.
What is BOE invoice?
During customs accounting process, BOE invoice is the one
through which the payment is made to the customs authority.
What are the setups
for TCS?
1. Tax
2. Tax Category
3. Item Catagory
4. Item classification
5. Transaction type
6. Transaction source
7. Receipt class
8. Regime registration
9. Tax calendar
10. Tax authority & Tax authority additional
information
11. Customer & Customer additional information
What is the difference
between Accrual Basis and Cash Basis?
Accrual accounting method recognizes the revenue when it
is earned & expenses when they are incurred. While cash basis accounting recognizes
revenue & expense when cash is actually spent or received.
How to create tax
code for VAT?
Tax Code can be created for VAT through Asia pacific
lookup, the look-up name is JAI_TAX_TYPE
Reference: Collected from various web
sources.
Please do refer below links for Oracle SCM Functional
interview questions & Answers on India Localization module.
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