I have a querry.
Our Client has a requirement to withhold a percentage of the input tax from vendor invoices during payment.
Eg the Input Tax is 16% . This amount is booked fully in the invoice.
During payment , the 6% of the input tax is withheld and the vendor is only paid the net invoice amount and 10% of the input tax.
How can we take care of the 6% withholding VAT?