Skip to Content
author's profile photo Former Member
Former Member

How to Create Tax code for Benefit

Hi Experts,

I want to create one tax code for below for below calculation, please suggest me how to create in SAP

Bank - 304416.00

Vendor +314832.00 (including Service Tax + Reverse Mach 4.944%)

ST Rev -7200.00

ST Rev E.Cess -144.00

ST.Rev. H.E.Cess -72

TDS on Base Values 3000 of Advance amount of Rs.300000/-

Service Tax (50%) to be paid to vendor 2.472%

Service Tax (50%) to be paid to Govt. 2.472%

Thanks & Regards,

Aish..

Add a comment
10|10000 characters needed characters exceeded

Assigned Tags

Related questions

3 Answers

  • Posted on Jan 29, 2014 at 06:26 AM

    Hi,

    We would like to know are you talking about Abatement, if yes please let us know so that we can guide you accordingly.

    Regards,

    Tejas

    Add a comment
    10|10000 characters needed characters exceeded

  • Posted on Jan 29, 2014 at 06:59 AM

    Hi,

    Please do following configuration :

    1. Define Withholding Tax Keys

    2. Define Withholding Tax Type for Invoice Posting.

    3. Define Rounding Rule for Withholding Tax Type

    4. Define Withholding Tax Codes

    In this give Post.indic. as 3 (Offsetting entry to G/L account) and Percentage subject to tax as 50%

    5. Portray Dependencies Between Withholding Tax Types

    In this case give dependency number of Basic Service Tax WHT code for ECS and S & H

    6. Assign Withholding Tax Types to Company Codes

    7. Create G/L accounts

    8. Define Accounts for Withholding Tax Offsetting Entry

    In case you require any further help please feel free to revert.

    Please note that in PO also Setoff for Service Tax condition should be maintained as 50%

    Regards,

    Tejas

    Add a comment
    10|10000 characters needed characters exceeded

  • Posted on Jan 29, 2014 at 07:11 AM

    Hello,

    pls check the below link , may be helpful.

    http://scn.sap.com/docs/DOC-42970

    best regds

    Subha

    Add a comment
    10|10000 characters needed characters exceeded

Before answering

You should only submit an answer when you are proposing a solution to the poster's problem. If you want the poster to clarify the question or provide more information, please leave a comment instead, requesting additional details. When answering, please include specifics, such as step-by-step instructions, context for the solution, and links to useful resources. Also, please make sure that you answer complies with our Rules of Engagement.
You must be Logged in to submit an answer.

Up to 10 attachments (including images) can be used with a maximum of 1.0 MB each and 10.5 MB total.