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author's profile photo Finance highway stream
Finance highway stream

India GST - State Tax - how to book in FB60

Posted on Jan 23, 2019 at 07:10 PM 283 Views

Dear,

I'm looking for an explanation on how to post a vendor invoice in FI FB60 transaction when local and central tax are applicable.

What I understand from GST rules is that 2 percentages (local and central) are applicable on one base amount.

Posting should result in

C Vendor 113

D Purchase account 100

D Tax account code 1 5

D Tax account code 2 8

What is the best practice for

1) customizing of tax code (2 taxes code or 1 tax code with 2 %) ?

2) posting the invoice in FB60

Thanks for your help

Goods and Services Tax (GST India) FIN Accounts Receivable and Payable
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3 Answers

  • author's profile photo Ankur Chauhan
    Ankur Chauhan
    Posted on Jan 30, 2019 at 11:09 AM

    Hi There,

    In FB60, you need to use single tax code with SGST & CGST tax rate with valid condition records, pls proceed and do let us know if you face any issue!

    Thanks,

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  • author's profile photo Finance highway stream
    Finance highway stream
    Posted on Feb 07, 2019 at 10:33 AM

    Hi Ankur,

    Thanks for your answer.

    It is working perfectly indeed, but I wanted to have a confirmation that this was a best practice for indian GST and that it was respecting all the GST other process & tools.

    Véronique

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  • author's profile photo Tejas Gupte
    Tejas Gupte
    Posted on Feb 08, 2019 at 12:35 PM

    Hi,

    You need to create CGST and SGST conditions with access sequence Country - Tax code (Table 003) for posting GST tax through FB60.

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