on 08-16-2007 12:24 PM
Hi,
While posting down payment to my service vendor including service tax amount in F-48 after tick the calculate tax also, it is not asking for tax code and it is not showing service tax seperately. Only vendor a/c and bank a/c's are simulating. Please tell me how to calculate tax while doing vendor down payment.
Regards,
Prasad
Hi,
Service tax is calculated and deducted from the invoice of service and not on Advance payment.
On Advance payment, there will be basic tax, surcharge, education cess and / or secondary higher education cess.
Hope this helps, if yes, please assign points.
Regards,
Harish
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> Hi,
>
> Thanx for ur reply, every month we are paying through
> advance payment for internet connection including
> service tax and this is fixed amount.
1. Enter vendor down payment - gross amount (do not calculate tax)
2. Post a recurring document to your vendor account which will include the lines:
C Vendor
D Internet charge expense account
D tax
3. Allocate invoice with down payment
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