Composite Taxes:

[Former Member]

Dear All,

As per the business requirement , we need to create following taxes in the system.

1. Service Tax 12.36%  on 67% of Net amount

      And VAT 12.5 % on 33% of net amount.

2. Service Tax on 33.36 % of Net Amount.

Please guide us to create above composite taxes.

Thanks in advance!!

Regards,

Archana

[ajitkumar]

easiest way is to have tax code where service tax % rate in the tax code is ( 12.36 * 0.67) , vat  % is ( 12.5 * 0.33) and like wise