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Former Member

Unique Purchase Scenario

Hi Experts,

Help me to configure this Unique Purchase Scenario of my client,

Base Price A: Rs.100/-

Base Price B: Rs.150/-

Applicable Tax (E.g 4%.) : Rs.6/- (Pl note this is applicable on Base Price B)

Payment to the Vendor : 100+6 (Base Price A + Applicable on Base Price B)

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Accounting Entries In GR

stock ➕ 100.00

GR /IR account (-) 100.00

Accounting Entries In MIRO

Test Vendor (-) 106

GR /IR account (+)100

VAT Payable (+) 6

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Regards

Meh

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2 Answers

  • Posted on May 29, 2008 at 05:15 AM

    Ur question is not clear- let us know ur requirement clearly

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    • Former Member

      Thanks for your reply,

      As i explained the materials has two Price components,

      Say Gross Price A and B,

      During purchase we have to pay to the vendor as,

      Gross Price A + Applicable Tax on Gross Price B,

      Hope now you are clear with our requirement

      Regars

      Meh

  • author's profile photo Former Member
    Former Member
    Posted on May 29, 2008 at 05:26 AM

    Dear,

    What is the significance of Second base price??

    It isn't coming into picture anywhere ??

    R u talking about the Notational VAT ??

    Biswajit

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    • Former Member

      Hi Biswajit

      1, What is the significance of Second base price??

      The sigificance is Tax will be calculated on this second base price.

      2, It isn't coming into picture anywhere ??

      Here itself is the difficulty, we have to capture tax on second base price only and MIRO should consider this for Tax.

      3. R u talking about the Notational VAT ??

      No. It is plan VAT 4 % or 12.5%

      Regards

      Meh Sham

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