What is 'PST number' in SAP FI - Financial Accounting?

PST number - Overview

• Component: FI

• Component Name: Financial Accounting

• Description: In Canada, a tax number used to collect provincial sales taxes.

PST number - Details

• 
  Key Concepts: 
  PST number stands for “Payment Service Tax” number. It is a unique identification number assigned to a company or individual by the Indian government for the purpose of collecting taxes on payments made to them. The PST number is used to track payments made to the company or individual and ensure that the correct amount of taxes are collected. 
  
  How to use it: 
  In SAP FI Financial Accounting, the PST number is used to identify the company or individual receiving payments. This information is used to ensure that the correct amount of taxes are collected on payments made to them. The PST number can be entered into the system when creating a payment document, and it will be used to track payments made to the company or individual. 
  
  Tips & Tricks: 
  It is important to ensure that the correct PST number is entered into SAP FI Financial Accounting when creating payment documents. This will ensure that the correct amount of taxes are collected on payments made to the company or individual. 
  
  Related Information: 
  The PST number is also known as a “Tax Deduction and Collection Account Number” (TDCAN). It is used in other countries besides India, such as Singapore and Malaysia, for similar purposes.