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Former Member
Sep 29, 2016 at 06:18 AM

PCR for service tax calculation

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Dear Experts,

I have a requirement to deduct service tax from basic salary if employee does not serve full notice period in the organization. The requirement is as below in detail:

1. The amount(Y) for shortfall will calculated as: (Basic salary*No. of days of notice period shortfall)/30.

This will give amount(Y) of notice period recovery and can be put in IT15.

2. Apart from this there will be three other types of service taxes applicable:

A) Service Tax payable Basic- This will be calculated as Y/1.14

B) Service Tax Payable K Cess - This will be calculated as Y*0.005

C) Service Tax payable Swach Bharat Cess - This will be calculated as Y*0.005

D) The total of A, B & C will be added and subtract from Y. Result will be say X

These above four A, B, C & D different amounts will be posted to four different G/L accounts in posting.


I want to write a PCR through which I can get amount for all Y, A, B, C & D.


Pls help as my Go-Live is next week and I got this reqt. now from FI department.


Thanks

Megha