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author's profile photo Former Member
Former Member

Tax Calculation

Hi All,

I have to calculate VAT on discounted amount. eg. In A/P Invoice i have 'X' amount in total before discount .Now i am giving 2000

discount on 'X' amount .Now i have to calculate vat on discounted amount.How can i solve this ?

My Formula is

"VAT_BaseAmt=TotalBED_TaxAmtCess_TaxAmt+SHECD_TaxAmt

VAT_TaxAmt=VAT_BaseAmt*VAT_Rate"

when i choose Discount in tax formula .Data type of Discount is in Percents.

Regards

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    author's profile photo Former Member
    Former Member
    Posted on Oct 31, 2008 at 07:24 AM

    Hi Sandeep,

    As per your current formula, the system will automatically calculate the tax on discounted total as you have selected total in formula.

    As soon as you put the discount amount the system will calculate new tax amount. So no need to use any discount function in tax code.

    Regards,

    Abhishek

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