New Service tax code creation

Dear Sir,
                I want create a new service tax code with 1021 %  & i want to assign the g/l codes.
                       So advice the t.codes & procedure.
Regards,
Prasanna

Hi,
1) Check what is the claculation procedure assigned to your country -
SPRO>>Financial Accounting (New)>>Financial Accounting Basic Settings (New)>>Tax on Sales/Purchases>>Basic Settings>>Assign Country to Calculation Procedure
2) Check wether condition types and account key for Service tax, Cess and HCess has been maitained for the Procedure -
SPRO>>Financial Accounting (New)>>Financial Accounting Basic Settings (New)>>Tax on Sales/Purchases>>Basic Settings>>Check Calculation Procedure - Define procedures.
3) If the Condition types are not maintained, create them and include them in the procedure (you can take help of a SD or MM consultant who knows how to define a pricing procedure).
4)Define your account keys if not already maintained -
SPRO>>Financial Accounting (New)>>Financial Accounting Basic Settings (New)>>Tax on Sales/Purchases>>Basic Settings>>Check and Change Settings for Tax Processing.
Here, you will give the description, tax type as input or output as per your requirement and posting indicator as 2.
5) Assign accounts -
SPRO>>Financial Accounting (New)>>Financial Accounting Basic Settings (New)>>Tax on Sales/Purchases>>Posting>>Define Tax Accounts
Here you can maintain the GL account by double clicking ont the account key created in the earlier step.
Posting key - 40 and 50, and maintain the GL account by selecting the Accounts tab.
6) Use transaction code FTXP or the path
SPRO>>Financial Accounting (New)>>Financial Accounting Basic Settings (New)>>Tax on Sales/Purchases>>Calculation>>Define Tax Codes for Sales and Purchases
and enter country and the ID for the tax code you want to create , Give the description and mention if it is input or output tax.
In the next screen, enter the rates against the relevant condition types.
Please revert in case of any clarification.
Thanks and Regards,
Anit

Similar Messages

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    Hi Amith
    I am new to the TAXINN procedure. I am trying to configure the new service tax code but not getting thru. Can you please share the detailed steps for creation of new service tax code.
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    Nandkishornachane wrote:
    Hi All,
    >
    > I want to create the new service tax code as per below mention calculation.
    >
    > Material cost = 100
    >
    > Cost on which service tax need to ba calculated = 33% of 100= 33
    >
    > So my service tax will be 10.3 on Rs 33 which is Rs. 3.4
    >
    > VAT should be calculated on material cost + Service tax = 100 + 3.4 + 103.4 which will be 5.16
    >
    > Please help me to create such kind of tax code.
    >
    > Regards,
    > Nandkishore Nachane
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  • Creation of Service Tax code for Service Tax Payable

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    Edited by: Shekhar Yecham on Sep 16, 2008 8:28 PM

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    Hi
    PLease find below links for your needful
    http://scn.sap.com/thread/1738086
    https://scn.sap.com/thread/407763
    http://scn.sap.com/thread/1357209
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    hi
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