F.2.2.2 Exempt Sales Tax in Decision/Contract tab
The Tax Details sub tab in Decision/Contract tab facilitates to record tax exemption details. If exemption details are provided for the application, all the tax details marked with Exemption Indicator Y in setup are exempted for this application.
Since the Tax Details sub tab is available in both Decision and Contract tabs, you can choose to define sales tax exemption either during Decisioning or Funding. However, exemption selected during decisioning will be applicable on funding if no changes are made.
- Navigate to Origination > Underwriting / Funding > Decision/Contract > Tax Details sub tab.
- Click Edit. You can also perform any of the Basic Operations mentioned in Navigation chapter. A brief description of the fields are given below:
Table F-11 Exempt Sales Tax in Decision/Contract tab
Field Description Exemption Check this box to indicate that application is eligible for tax exemption Else, all the sales tax defined in setup are applicable for the application.
Note: Sales tax exemption is eligible only if the exemption option is checked in both Origination (Tax Details tab) and Setup screen (Setup > Administration > System > Sales Tax screen).
Exemption Start Dt Select the exemption start date from the adjoining calendar. Exemption End Dt Select the exemption end date from the adjoining calendar. This field is enabled on selecting the exemption start date. Reason Select the exemption reason from the drop-down list. This field is enabled only if Exemption check box is selected. Tax Code View the tax code applied for this application. - Perform any of the Basic Actions mentioned in Navigation chapter.
Parent topic: Sales Tax Calculation at Origination