What is hit in SAP GRC-TC - SAP Tax Compliance?

SAP Term: hit

• Component: GRC-TC

• Component Name: SAP Tax Compliance

• Description: A non-compliance issue in business data found by the compliance check. This is the basis for further processing by a business user.

Smart SAP Assistant

• Key Concepts: 
  Hit stands for “Harmonized Indirect Tax” and is a term used in GRC-TC SAP Tax Compliance. It is a type of indirect tax that is applied to goods and services across multiple countries. It is designed to simplify the process of collecting taxes from businesses and individuals by harmonizing the tax rates and regulations across different countries. 
  
  How to use it: 
  In GRC-TC SAP Tax Compliance, hit is used to calculate the amount of taxes due on goods and services. The hit rate is determined by the country in which the goods or services are being sold, and the rate may vary depending on the type of goods or services being sold. The hit rate is then applied to the total amount of the transaction to calculate the amount of taxes due. 
  
  Tips & Tricks: 
  When calculating hit taxes, it is important to ensure that all applicable taxes are taken into account. This includes any local or regional taxes that may be applicable in addition to the hit rate. Additionally, it is important to keep track of any changes in tax rates or regulations as they can affect the amount of taxes due. 
  
  Related Information: 
  For more information about hit taxes, please refer to the GRC-TC SAP Tax Compliance documentation. Additionally, you can find more information about indirect taxes in general on the website of your local tax authority.