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Former Member

10% GST withheld on 16% GST at the time of Invoice

Hello Experts,

Business has a requirement to calculate with held GST amount on GST taxable amount like 10% GST withheld on 16% GST, please find the example below;

Entry

GR/IR Stock Dr 1000

GST Amount Dr 160

Vendor Cr 1144

With Held GST Cr 16

Taxable amount = 1000

16% GST = 160

10% GST Withheld = 16

Anyone can help me on this.

Regards,

Rash Bharmal

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2 Answers

  • Best Answer
    Nov 30, 2016 at 11:20 AM

    Hi,

    You can create two condition types - one for GST (ZGS1) and one for GST (ZGS2) withheld.

    In the condition record, maintain ZGS1 with positive sign (16%) and ZGS2 with negative sign (1.6%).

    Regards

    Abhi

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  • Dec 05, 2016 at 09:31 AM

    Hi Rashida,

    You can achieve the same by creating an Input Tax Code of 16% in FTXP and creating a WHT type (based on Income Tax) on Invoice Posting.

    Then create a WHT code of 10% and assign the GLs against them. Assign the Type and Code in the vendor Master in FK01 and then perform the MIRO/FB60. This will give you the desired results.

    Regards,

    Amar Lal Lohano

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