Thanks, Thanga.
I did exactly what SAP standard has suggested as help document in configuration under the "Configuring the material master". The issue here is I am able to see the new tab and fields only for new materials like if I create a material using MM01 let's "MAT-1", all the new fields I can see and maintain in MM01/MM02/MM03.
However, the real issue is I don't see this new tab and fields for all the existing materials that were created prior to this enhancement.
Thanks,
Harry