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Former Member
Jul 31, 2012 at 04:14 AM

Increase in VAT tax


Dear Experts,

I have raised invoices with a vat condition 12.5% from 01/01/2012 and duly supplied it to my customer. Now it is termed that, vat condition has been increased to 13.125% with effective from 01/01/2012.

1. I can't simply cancel my invoices, change the condition rate and invoice again as it has already moved to customer.

2. Raising a Debit memo for the difference will results in addition of Sales volume.

3. Passing the Vat differences through JV will affect the Sales Information report and Registers report.

Can you please help me on what should be done to pass the Vat differences. Hope I have explained my situation clearly, Thanks in advance.


Vijay N