SAP SD CIN Issues

The Financial Accounting (FI) component covers the most important laws and business practices specific to India. The following documentation describes these aspects of the component.

Country-Specific Functions
Country Version India comes with a large number of additional functions for withholding taxes. The customer and vendor masters have been enhanced to store data only used in India. An extra report is also provided for depreciating assets according to the Income Tax Act.

Country Template
The country template for India comes with:

· Sample settings for calculating and posting taxes

· A chart of accounts and financial statement version

· Sample settings for asset depreciation

A tax, in India, on the manufacture of goods, payable by manufacturers when goods leave their premises.

Different goods are subject to different sorts of excise duty as follows:

Basic excise duty
Special excise duty
Additional excise duty
Cess

Under the terms of the CENVAT scheme, manufacturers can deduct the duties that they pay on input materials against the duty they charge on output materials (with the exception of cess).