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GST TAX CALCULATION SHOULD POST GL ACCOUNT BUT SHOULD NOT DEDUCT FROM INVOICE

Jun 05, 2017 at 02:51 PM

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Hello Team,

we are having requirement from our client:-

client plant is located in SEZ area where no tax applicable.

but from now onwords, with GST regime, they want to calculate the tax and it should be post to GL account but invoice amount should not be deducted.

for example- Intra state tax is @10%

invoice

credite vendor ac 1000

debit expense ac 1000

debit CGST 50

debit SGST 50

Please confirm ASAP.

Actually, client is want to know how much they are saving by having plant in SEZ location.

Nitin Nikhade

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2 Answers

Nitin Jain Jun 06, 2017 at 05:16 AM
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In that case you don't post to GL Account. Define separate conditions for the Notional GST. Make them statistical (won't post to your Chart of Accounts/ GLs). Take these statistical conditions and develop a report suited for the purpose.

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Gavin Monteiro Jun 22, 2017 at 08:58 AM
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Hi,

Go to T Code: FB00 and click on Calculate taxes on Net Amount.

This means that the amounts are entered without any taxes. And the taxes would then be calculated on the Net Amount.

Regards,

Gavin Monteiro.

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