04-11-2016 11:36 AM
Hello,
I have a scenario, where in there is a logic in taxes and its based on mutual understanding between mu=y client and his vendor.
The logic is as follows;
Total amount-----------100
Tax exempted----------40
Taxable amount--------60
Tax rate-------------------14%
Now my client pays 14% on 30
Vendor pays 14% on remaining taxable amount 30.
Can we build in standard FTXP. Kindly suggest any inputs. It will be highly valued.
Regards,
Shyam.
04-11-2016 11:46 AM
Hi,
In this case you can maintain 7 % on taxable amount so system will calculate as per your requirement.
Regards, Rakesh
04-11-2016 11:46 AM
Hi,
In this case you can maintain 7 % on taxable amount so system will calculate as per your requirement.
Regards, Rakesh
04-11-2016 11:59 AM
Hello Rakesh,
Thanks for the prompt reply. Here The system will calculate 7% on total amount 100.
Where can I maintain 60?
Regards,
Shyam.
04-11-2016 12:00 PM
04-11-2016 12:02 PM
Hi,
For service tax, you need to derive applicable % based on taxable value i.e. 100
in you case, it would be 4.2 % on 100 which is equal to 7 % on 60
also refer thread http://scn.sap.com/thread/3385492 for other possible way to maintain required taxes
regards, Rakesh
04-11-2016 12:17 PM