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Indian VAT with no excise applicability

Hello,

We have a scenario where we are exempted from excise, however normal VAT is applicable, can anyone tell me whether CIN should be implemented in this case, if so to what extend it should be done and if not, then how can we manage the VAT accounting as we take input credit also, also we want to have all the VAT details to be captured from the system including report for filing the returns.

Regards

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  • Best Answer
    Posted on Jan 03, 2014 at 05:40 AM

    Hi Friend

    Please check the wiki, hope it will helpful to you to understand the basic configuration. It is recommended to activate CIN even though you are not using Excise Tax for your company code.

    wiki.scn.sap.com/wiki/display/ERPFI/Taxes+Basic+Settings

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    • Former Member

      Thanks for the details, however can you tell me, without activating CIN, can we able to post all the VAT related transactions and also get the relevant reports required for filling with statutory authorities?

      And if by activating CIN what all the are the specific benefits that I can get only from VAT perspective, I read some documents, wherein they explain more on excise point of view and not on VAT. Thanks again for your response

  • Posted on Jan 03, 2014 at 06:10 AM

    HI, Viajy,

    If there is exemption from Excise, still some of the formalities are required for Excise if it belongs to SEZ.

    For VAT you can define the taax code for your purpose and the same can be done.

    Check the necessary setting in tax on sale purchase.

    Regards

    Pankaj Pandey

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