{
  "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.

Attributes

platform_id
string
required

The accounting platforms ID for the tax rate

name
string

Display name

code
string

Simple ID for the tax rate

tax_type
string

The type of tax as mentioned in the accounting platform

effective_tax_rate
float

The total tax rate after accounting for the compounding effects of all the tax components

total_tax_rate
float

The sum of all the tax rate components

components
Tax Component

An array of all the tax components

raw_data
object

The raw JSON response we get from the accounting platform for that data.

Properties Supported

PropertyTypeDescription
platform_idstringThe accounting platforms 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

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.

Properties Supported

PropertyTypeDescription
namestringDisplay name
codestringSimple ID for the tax component
ratefloatTax Rate
is_compoundbooleanIf the tax rate has a compounding effect