Hi Kiron,
It should be possible using standard time conversion functionality in the Transformation rule. I think that the issue might be the proper identification of the Time Characteristic. Sometimes you have to help the system a little bit.
In those cases where the time conversion does not work automatically, I suggest to assign an appropriate Time Characteristic to the source field in the Transformation rule.
Please note that you have to be careful with conversions like Fiscal Year/Period to Calendar Year/Month since the Fiscal Year/Periods do not have to be in sync with the Gregorian Calendar.
Best regards,
Sander