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Oct 01, 2020 at 02:04 PM

How to implement TCS (Tax collected at source) tax in SAP B1?

135 Views Last edit Oct 01, 2020 at 02:05 PM 2 rev

Hello World!!

I have following scenario which needs to be build in SAP B1 for HANA for collecting TCS tax for Indian localization.

1. It is applicable from 01st Oct,2020.

2. It will be deducted when we receive amount above Rs. 50,00,000/- from a customer.

3. TCS rate will be for a PAN holder customer from which we will receive more than 50 Lakhs deduction is 0.075% of receipt amount or if don’t have PAN deduction is 0.1.% on payment received over 50 Lakh.

4. Threshold Limit of Rs. 50 Lakh will calculated based on PAN of customer.

Kindly suggest a work around or is there any solution in standard version of SAP B1?