GST ADJUSTMENT IN BANK CHARGES

[sreesajs]

Dear Experts,

My all banks are charging bank charges with GST on Bank charges. Example: Bank charged Rs. 250 from my account as Bank Charges. In this case, the bank charges CGST and SGST @ 9% each because GST on Bank Charges and interest is 18%. So the entry will be like this:
Bank Charges Dr. 250.00
CGST Dr. 22.50
SGST Dr. 22.50
ABC Bank Cr. 295.00

I want to claim the tax amount. So how I deal with this scenario in sap B1. Please provide me a better solution

Thanks & Regards,

Sreesaj S

[msundararaja_perumal]

Hello,

Create a TaxGroup with Central and State, then create tax code based on this group, then do a outgoing payment on bank charges with the newly created taxcode and payment means to the bank account, this will replicate your requirement.

Thanks.

[sreesajs]

Dear M. Sundararaja Perumal,

Thank you so much for your reply, but how can I select the tax code on the Outgoing Payment screen?

Regards,

Sreesaj S

[msundararaja_perumal]

In the outgoing payment-choose account(option button), then in the row level choose the Bank Charges G/L account and you should be able to select the taxcode, if it not appears enable them under Form Settings.

Thanks.

[sreesajs]

But there is no tax code selection available in the Outgoing Payment Screen.

[msundararaja_perumal]

Strange, looks like its a limitation in the Indian Localization.

You may try using the journal entry, enable the checkbox Automatic Tax and you will be able to choose the respective taxcode under the Taxgroup column.