I'm trying to combine ED (Excise duty) and CST for Purchase process.
ED is calculated at 12.5% based on assessable value and added to the
Total amount and CST 2% calculated on the resulting value.
E.g GRPO amount - Rs 44045 (based on unit price * qty)
Assessable value - Rs 30544 | ED 12.5% is calculated on this - Rs 3818
Total = 44045 + 3818 = 47863
CST 2% on 47863 = 957.26
Grand Total = 47863 + 957.26 = 48820.26
From above its obvious both ED and CST should be combined into one tax code.
I need help in coding the Tax formula to arrive at the required amount. Please help.
With Thanks & Regards