Skip to Content
0
Former Member
Jul 06, 2009 at 09:15 AM

VAT Calculation Confirmation

13 Views

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