{
  "platform_id": "3770712000001298001",
  "name": "Inter State Exchange Taxes",
  "code": "GST",
  "tax_type": "sgst",
  "effective_tax_rate": 18,
  "total_tax_rate": 18,
  "components": [
    {
      "name": "Inter State Exchange Taxes",
      "rate": 18,
      "tax_agency": "igst",
      "is_compound": false
    }
  ],
  "updated_at": "2000-12-31T18:30:00.000Z"
}
The Tax Rates Data Model is designed to provide a unified representation of tax rates across various accounting platforms.
  • Unified tax rate properties: The model unifies essential tax rate details, such as name, code, effective tax rate, and total tax rate, streamlining the handling of tax data from different platforms.
  • Tax components support: The data model encompasses an array of individual tax components, enabling the representation of complex tax structures and relationships between components.
  • Effective tax rate calculation: The model accounts for the compounding effects of all tax components, providing an accurate effective tax rate for each entry.

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Attributes

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Properties Supported

PropertyTypeDescription
platform_idstringThe Platform’s ID for the tax rate
namestringDisplay name
codestringSimple ID for the tax rate
tax_typestringThe type of tax as mentioned in the accounting platform
effective_tax_ratefloatThe total tax rate after accounting for the compounding effects of the all tax components
total_tax_ratefloatThe sum of all the tax rate components
componentsTax ComponentAn array of all the tax components

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Tax Components

The Tax Components Data Model complements the Tax Rates Data Model by providing detailed information about individual components of tax rates.
  • Essential component properties: The model captures important tax component details, such as name, code, and rate, making it easier to work with tax components from various platforms.
  • Compounding effect tracking: The is_compound property indicates whether a tax component has a compounding effect on the overall tax rate, allowing for accurate tax rate calculations.
  • Seamless integration with Tax Rates Data Model: Tax Components are integrated as part of the Tax Rates Data Model, ensuring a comprehensive representation of tax rate structures and relationships.

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Properties Supported

PropertyTypeDescription
namestringDisplay name
codestringSimple ID for the tax component
ratefloatTax Rate
is_compoundbooleanIf the tax rate has a compounding effect
{
  "platform_id": "3770712000001298001",
  "name": "Inter State Exchange Taxes",
  "code": "GST",
  "tax_type": "sgst",
  "effective_tax_rate": 18,
  "total_tax_rate": 18,
  "components": [
    {
      "name": "Inter State Exchange Taxes",
      "rate": 18,
      "tax_agency": "igst",
      "is_compound": false
    }
  ],
  "updated_at": "2000-12-31T18:30:00.000Z"
}