We are getting monthly invoice from Customs Excise duty department for all GST amounts means completely 100% input tax.
This we need to park/post in a Vendor (Excise duty department) invoice with 100% amount should go to input tax and this duty should calculate with a tax code automatically.
Tax code is defined as CU 100% in VST with condition type MWVS.
Currently we are following below entry with "calculate tax on net amt activated" in editing options.
Vendor GST clearing - 10000.00 debit
Input tax - 10000.00 debit
Vendor GST clearing - 10000.00 credit
Vendor A/c - 10000.00 credit
Ideally we do not want to activate calculate tax on net amt activated" in editing options.
Could you please let me know below queries.
Is above entry is correct process?
Is there any standard/other process for GST invoice from Excise dept to do this?