This article applies to Microsoft Dynamics AX for the Indian (in) region.

INTRODUCTION

This article describes that a country-specific update is available to support the Tax Collection at Source (TCS) on the cash purchase of jewelry in India in Microsoft Dynamics AX 2012 R2.

More Information

According to the new Finance Bill, cash transactions on jewelry that exceed the threshold of INR 500,000, or cash transactions on bullion that exceed the threshold of INR 200,000 will be liable for the TCS of a one percent rate.After you apply this update, you can specify a withholding tax group for jewelry in Microsoft Dynamics AX 2012 R2. Transactions that have the TCS tax group will be matched against the threshold, and then taxes will be applied according to the appropriate tax logic. Note The system makes sure that the TCS will be only applied when the payment method is cash.

Hotfix information

A supported hotfix is available from Microsoft. There is a "Hotfix download available" section at the top of this Knowledge Base article. If you are encountering an issue downloading, installing this hotfix, or have other technical support questions, contact your partner or, if enrolled in a support plan directly with Microsoft, you can contact technical support for Microsoft Dynamics and create a new support request. To do this, visit the following Microsoft website:

https://mbs.microsoft.com/support/newstart.aspx You can also contact technical support for Microsoft Dynamics by phone using these links for country specific phone numbers. To do this, visit one of the following Microsoft websites:Partners

https://mbs.microsoft.com/partnersource/support/Customers

https://mbs.microsoft.com/customersource/support/information/SupportInformation/global_support_contacts_eng.htmIn special cases, charges that are ordinarily incurred for support calls may be canceled if a Technical Support Professional for Microsoft Dynamics and related products determines that a specific update will resolve your problem. The usual support costs will apply to any additional support questions and issues that do not qualify for the specific update in question.

Installation information

If you have customizations for one or more of the methods or the tables that are affected by this hotfix, you must apply these changes in a test environment before you apply the hotfix in a production environment.For more information about how to install this update, click the following article number to view the article in the Microsoft Knowledge Base:

893082 How to install a Microsoft Dynamics AX hotfix

Prerequisites

You must have Microsoft Dynamics AX 2012 R2 installed to apply this hotfix.

Restart requirement

If you are prompted to restart the computer, you must restart the computer after you apply this hotfix.

File information

The Hindi version of this hotfix has the file attributes (or later file attributes) that are listed in the following table. The dates and times for these files are listed in Coordinated Universal Time (UTC). When you view the file information, it is converted to local time. To find the difference between UTC and local time, use the Time Zone tab in the Date and Time item in Control Panel.

Need more help?

Want more options?

Explore subscription benefits, browse training courses, learn how to secure your device, and more.

Communities help you ask and answer questions, give feedback, and hear from experts with rich knowledge.