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Tax Config

Hi,

I have some questions regarding tax configuration and tax concept for sales and use tax

1. how do the jurisdiction codes used for vendors and customers.

2. Do the vendor and customer have their own jurisdiction codes , how can we know what jurisdiction codes have to be maintained .

3. When we specify the tax codes at line item level , the tax which is calculated applied to the company .

Please let me know , thanks very much

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  • Posted on Nov 23, 2007 at 05:35 AM

    Hi,

    Excise registration no./ECC/LST/CST/Ser.Reg.No should be maintained in Vendor/ customer master,

    if your product/service are applicable VAT/LST/CST u have to maintainthe sales tax recards as per statutory requirement. vendor/customer is vat dealer he is having vat no. different rates are there for vat dealer and non dealer,

    if your manfacturer/trader your product is exciseable you have to maintain the excise registers.

    as per the state/plant/product/customer/vendor u have to maintain the different tax conditions for each customer/vendor.

    as per the statutory requirement you have to maintain the this tax jurisiduction codes has to maintain.

    please assign the points if its useful

    regards

    sai krishna

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