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Sep 30, 2011 at 01:19 PM

Service Tax Balance Transfer

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Hi Experts,

As per the latest notification all service tax utilisations are done on due basis and hence the deferral program is not required now. But for those credits taken before this notification needs be carried forwarded and utilised only on receipt.

Client has gone live after this notification and hence this balance is kept in a separate account. As and when the amounts are received the amounts need to be transfered to service tax payable account. While trying to do so in f-04/fb05 the system is throwing the following error

Tax code Y1 may only contain one assignment line

Message no. FF731

Diagnosis

For direct postings to tax accounts, only tax codes containing exactly one tax line may be used. Tax codes with several rates or a nondeductible portion are not allowed here.

Procedure

Use a different tax code.

For direct postings to a tax account, you might have to define a separate tax code for which only one line with a percentage rate other than zero is active in percentage rate maintenance. All other lines must be inactive.

To do this, choose Maintain entries (F5).

Please advice