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Former Member

Equalisation Levy @ 6%

Posted on Aug 22, 2016 at 09:34 AM 47 Views

Hi,

Everybody will be knowing Equalisation Levy @ 6% by Budget 2016 in India. Is there any configuration available to satisfy this requirement ?


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  • author's profile photo Former Member
    Former Member
    Posted on Aug 24, 2016 at 01:24 AM
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    Dear Muhammed,

    You can create this Equalization Levy like as a With holding tax. Recently I have done this for one of my client and it is working fine.

    Regards

    Siva

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    • Former Member
      Aug 24, 2016 at 10:31 AM

      How we can treat and configure witholding tax code and type in sap for this purpose.

      As per my knowledge,

      This tax is levied at the rate of 6% for any payment that exceeds Rs. 1,00,000 a year from an Indian company to a non-resident for providing specified service

      So, do we have to use accumulation type / formula ?

      Could you please explain how you have treated ?

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