on 04-12-2012 5:51 AM
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
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.
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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
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
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
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