In 100% EOU i have to place a purchase order to a vendor who is local but he is procuring through Import. So we have to pay CD to him. The calculation is as follows for example,
Base price is 37180 Rs
CD of 3.75% = 1394.25 Rs on Base price and packing and forwarding.
ED of 10% =3857.43 Rs on Base price and CD
Ed.cess ED of 2% = 77.15 Rs
HEd.cess on ED of 1% = 38.57 Rs
Ed.cess CD 2% on CD = 107.35 Rs
HEd.cess on CD 1% on CD = 53.67 Rs
Sub Total = 42708.42
On all these factors VAT of 14.5% is calculated = 6193 Rs.
To achieve this what i have to do please suggest me i am not familiar with pricing. Should i have to create Tax code according to this? If so kindly tell me the procedure.
Thanks and Regards