cancel
Showing results for 
Search instead for 
Did you mean: 

Define Excise & vat in one code

former_member256837
Contributor
0 Kudos

Hi,

We need excise & VAT in one code.

It will work this way: On basic amount, excise will be calculated and on this total VAt will be applied

Basic PO amount: 1000

Excise 10.36%

VAt: 4%

Basic:      1000

+

Excise:103.6 (for example)

=          1103.6

VAT:     44.14

Total= 1147.74

Could you please give me few hints for definition of the same

Thanks

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
0 Kudos

Go to FTXP. Enter any desired tax code (eg: TX) and save with appropriate description

Now, If using TAXINN Procedure, then go to OBQ3, and then choose procedure.

Then make arrangement as below:

Step       CTyp                                                                      From     to            AccKey

100         BASB

560         JMOP    IN: BED setoff %                               120         0              VS1

566                         Sub Total Excise Set Off                 560         565

567         JEC1       IN: E Cess Setoff %                          566                         VS1

568         JSEP       IN: HE Cess setoff %                       566         0              VS1

592                         Exc+Ece+HSEcess (DED)              566         568

594                         Net + Excise+ Cess                          591         593

596         JVRD      IN: Vat RM Ded                                   594                         JE1

611                         Net Price + Tax                                  594         610        

Now go to fv11 and enter your condition type , then select key combination and accordingly maintain tax rate in each condition and tax code. Now Save.

With this you have created a tax code for calculation excise and vat.

kindly award points if helpful.

former_member256837
Contributor
0 Kudos

Thanks Rishu!

I will follow the steps and come back

former_member256837
Contributor
0 Kudos

Rishu,

I can't find condition type JEC1, JSEP and JVRD

former_member256837
Contributor
0 Kudos

Hi,

I have changed the tax procedure.

When i created tax code, for JIPC (VAT) , it is asked me to create tax level for 591

591 is actually - basic + ED + EC+ HEC

former_member256837
Contributor
0 Kudos

Rishu,

I made the customizing as suggested by you.

How and where do you assign tax account? In OB40?

Account key used is VS1

Kindly revert

Thanks

narasimhulu_konnipati
Active Contributor
0 Kudos

Yes, if it is GL Account then OB40.

Thanks

former_member256837
Contributor
0 Kudos

Thanks!

I have assigned account in OB40

But while booking, system calculates excise and doesn't book it on the account.

It is only in GR/IR account

Do you know why? What i'm missing?

Thanks

narasimhulu_konnipati
Active Contributor
0 Kudos

It seems the Tax value is adding upto Inventory account.

SPRO -> FA New -> Taxes on sales and Purchases

Is the condition type ->Modify key (in OBCN) has been defined as decutable or non deductible?

Keep this option as "Deductible"

Then only system generate a separate line item for tax value. Settings are below

Description     Input tax

Tax type        2  Input tax

Not deductible                         Do not tick this option

Posting indic.  2  Separate line item

Thanks

former_member256837
Contributor
0 Kudos

Thanks!

For separate line generation is there is "Posting indicator"  I have given 2 for it

Now with deductiable, it is not even calculating tax value

narasimhulu_konnipati
Active Contributor
0 Kudos

Can you attach the screen shots of OBCN and the transaction details?

Thanks

former_member256837
Contributor
0 Kudos

In ME22N, in  "Invoice"tab when i give my tax code, beside there is a taxes tab

It shows picture as below: correct tax calculation. But in posting picture is different

Condition Type                    AMount

BASB                                   100

JMOP(12)                              12

JEC1(2)                                   2

JSEP(1)                                   1

Total excise duty                    12.36

Price +ED                              112.36

JIPS(12.5)                              14.05

Net + VAT                                126.41

While posting it only takes 12.5

Thanks       

narasimhulu_konnipati
Active Contributor
0 Kudos

After the change in OBCN, try to create a new PO and check.

Thanks

former_member256837
Contributor
0 Kudos

I did check with new PO.

Still the same

narasimhulu_konnipati
Active Contributor
0 Kudos

Tax calculation in PO shows correct. Just attach the screen shot of transaction where you don't see the Tax line item.

Thanks

former_member256837
Contributor
0 Kudos

When i do MIRO, simualtion shows me

Vendor                    -112.50

GR/IR account          100

VAT account               12.5

I don't see excise anywhere

Thanks

former_member256837
Contributor
0 Kudos

Hi,

Please reply to this thread! It is urgent requirement

Thanks

former_member256837
Contributor
0 Kudos

Hi,

Excise code is working fine!

I have another problem now!

When i select service tax code in PO, it calculates service tax & excise both!

I have two different codes one for service tax and another for excise

Do you know why?

Regards,

Answers (1)

Answers (1)

former_member256837
Contributor
0 Kudos

Hi,

I have created one tax code for Excise with VS1, VS2 and VS3

Basic Amount                    Level 100

VS1 on basic amount         Level 200

VS2 on VS1`                       Level 202

VS3 on VS1                         Level 204

@VAT: VAT should be on the total of basic + VS1 + VS2 + VS3

How should i define for VAT?

Could you please help me in defining?

Thanks