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Purpose
The Taxes component covers the most important laws and business practices specific to India. The following documentation describes these aspects of the component. For generic information about Taxes, see 
Features
Country-Specific Functions
Country Version India uses the standard functions for calculating and collecting withholding taxes. However, both Classic Withholding Tax and Extended Withholding Tax come with additional functions for tax remittance, journal vouchers, creating withholding tax certificates, and preparing annual returns.
If you want to handle excise duties, you must post the excisable transactions using the Materials Management (MM) and Sales and Distribution (SD) components. The system calculates the excise duty in these components and creates the appropriate line items in Financial Accounting (FI). However, if you only want to handle withholding taxes, you can use FI on its own.
Country Template
The country template for India comes with settings for calculating and posting withholding taxes, and account determination settings for posting excise duty.
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