What is excisable in SAP FI - Financial Accounting?

SAP Term: excisable

• Component: FI

• Component Name: Financial Accounting

• Description: Subject to excise duty.

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• Key Concepts:
  Excisable is a term used in SAP Financial Accounting (FI) to refer to goods that are subject to excise taxes. Excise taxes are taxes imposed on certain goods, such as alcohol, tobacco, and fuel, by the government. Excise taxes are typically based on the quantity of the goods purchased or produced.
  
  How to Use It:
  In SAP FI, excisable goods are identified by assigning an excise tax code to the material master record. This code is used to determine the applicable excise tax rate for the goods. The excise tax rate is then used to calculate the amount of excise tax due on the purchase or production of the goods.
  
  Tips & Tricks:
  When assigning an excise tax code to a material master record, it is important to ensure that the correct code is used. This will ensure that the correct excise tax rate is applied and that the correct amount of excise tax is calculated.
  
  Related Information:
  For more information on SAP FI and excisable goods, please refer to SAP Help documentation or contact your local SAP support team.