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author's profile photo Former Member
Former Member

recent excise rate change

Hi,

Please advise as to what are the changes we have to make in our tax code due to recent excise changes. Do we have create new tax code and assign it to conditions.What are the effect if we modify the exciting tax codes?Will it create a problem for any report in the future? We are using TAXINN. Please advise.

thanks

Arun

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6 Answers

  • author's profile photo Former Member
    Former Member
    Posted on Dec 10, 2008 at 08:12 AM

    Hi,

    In J1ID transaction, select Excise Tax Rate and copy the existing one and change the percentage (14%), give the Valid from and valid to date.

    Regards,

    mohan kumar

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  • author's profile photo Former Member
    Former Member
    Posted on Dec 10, 2008 at 08:47 AM

    Dear Arun,

    For excise duty changes, what Mr. Mohan said is correct. The validy period controls the changes for the previous documents.

    Regards,

    VB

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  • author's profile photo Former Member
    Former Member
    Posted on Dec 10, 2008 at 08:54 AM

    Hi:

    Maintain new excise rates in Excise Rate maintanace transaction (J1ID), select radio button Excise Tax Rateand maintain new rate as 14%, with the Valid from and valid to date.

    Cheers

    Awards plz if helpful.

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  • Posted on Dec 10, 2008 at 02:24 PM

    You must to change the Tax Condition Records for Eg : JMOP in FV11 Trxn code from 14% to 10%

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    • Former Member Ashok Kumar Telugu

      Hi,

      As mentioned if I change the tax rate in JMOP for the tax code with validity will it affect any of my reports that uses the tax code to determine the value .i.e. their will be two rates for this month so will it create any difference if I run any FI report based on Tax codes.

      thanks

      Arun

  • author's profile photo Former Member
    Former Member
    Posted on Dec 12, 2008 at 06:51 AM

    Hi,

    PO Tax percentage will not change, it will remains 14% only ( becasue there may part supply of quantity for that PO)

    During MIGO, it calculates excise duty depends on the Document date, if you have ticked the check box in,

    SPRO - Finance and Accounting - Tax on Sales/ Purchases - Calculation - Assign Company code to Document date for Tax Determination.

    Hope the above is clear.

    Regards,

    Mohan Kumar

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  • author's profile photo Former Member
    Former Member
    Posted on Dec 12, 2008 at 09:40 AM

    Dear Arun,

    For excise duty changes, what Mr. Mohan said is correct. The validy period controls the changes for the previous documents.

    Regards,

    VB

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