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Former Member

VAT Calculation Confirmation

Hi all,

I have 1 doubt in VAT Calculation. While Creating PO for a material, the material price is Rs.1000. BED Value 8% of materila, Ecess is 2% of BED and SCess is 1% of BED and VAT is 4%. So the Calculation will be,

Material - 1000

BED - 80

ECess - 1.60

SCess - 0.80 and

VAT - 43.30.

My doubt is, for this PO, we do MIGO Process and while in MIRO process, if we are not complete Excise invoice for this MIGO, it is calculating Same Value for,

Material - 1000

BED - 80

ECess - 1.60

SCess - 0.80 and

VAT - 43.30.

If we complete Excise Invoice process for this PO, the VAT Calculation is coming differently. That is

Material - 1000

BED - 80

ECess - 1.60

SCess - 0.80 and

VAT - 46.59 (1000801.600.80801.600.80)*4/100

I dont know whether this calculation process is right or wrong? or suggest me i should calculate 43.30 only.

Give the clear idea about it.

Anyone suggest me...

Regards,

Mohan.

Edited by: Mohan on Jul 14, 2009 12:34 PM

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3 Answers

  • author's profile photo Former Member
    Former Member
    Posted on Jul 14, 2009 at 08:09 AM

    43.29 is correct calculation , Just chk your configuration in CIN for that material

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  • Posted on Jul 14, 2009 at 09:08 AM

    check your TAX Calculation Procedure through following path

    SPRO-Financial Accounting (New)-Financial Accounting Basic Settings (New)-Tax on Sales/Purchases-Basic Settings-Check Calculation Procedure

    double click on Define Procedures

    select your tax procedure, double click on control data

    here you can find the calculation mistake

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  • author's profile photo Former Member
    Former Member
    Posted on Aug 27, 2009 at 08:55 AM

    solved

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