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Former Member

Service tax code

Hi All,

I want to create the new service tax code as per below mention calculation.

Material cost = 100

Cost on which service tax need to ba calculated = 33% of 100= 33

So my service tax will be 10.3 on Rs 33 which is Rs. 3.4

VAT should be calculated on material cost + Service tax = 100 + 3.4 + 103.4 which will be 5.16

Please help me to create such kind of tax code.

Regards,

Nandkishore Nachane

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3 Answers

  • Best Answer
    Posted on Nov 18, 2011 at 05:09 PM

    you may caluclate the service tax on base amount. in the s tax condition maintain 3.4 %

    vat can be calculated on the sum of the base amount and service tax.

    for vat condition in tax schema the basic type may have to be maintianed as 363 and calcuation type which is relevant for vat deductible or inventory

    you will aslo have to maiintian the account keys for Stax and vat.

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  • author's profile photo Former Member
    Former Member
    Posted on Nov 19, 2011 at 05:25 AM

    Hi All,

    >

    > I want to create the new service tax code as per below mention calculation.

    >

    > Material cost = 100

    >

    > Cost on which service tax need to ba calculated = 33% of 100= 33

    >

    > So my service tax will be 10.3 on Rs 33 which is Rs. 3.4

    >

    > VAT should be calculated on material cost + Service tax = 100 + 3.4 + 103.4 which will be 5.16

    >

    > Please help me to create such kind of tax code.

    >

    > Regards,

    > Nandkishore Nachane

    Hi,

    F or this you have to create tax code in ftxp as s1.

    in that code you have to given the description as service tax+vat

    and use the all conditiontypes which are nneded for your calculation use all condition types in your procedure in ob40

    and given the percentages for your condition types in fv11.

    after that use this tax code at the time of p.o creation.

    Thanking you.

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  • author's profile photo Former Member
    Former Member
    Posted on Nov 19, 2011 at 05:51 AM

    Hi,

    u have to create tax code in ftxp with 's' series & maintain percentage in fv11.

    go through the below process

    Ex:

    10 BASB 100 FV11 Steps

    20 Sub total 100 10

    30 ZESE 33 33% 20

    40 ZSER 3.3 10.00% 30

    50 ZSDC 0.066 2% 40

    60 ZSHC 0.033 1% 50

    70 TOTAL 3.399 40-60

    80 TOTAL BASIC100 10

    90 TOTAL 103.399 70-80

    100 ZVAT 5.16995 5% 90

    110 TOTAL VALUE108.56895 90-100

    Regards

    Raj.

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