Service Tax On Down Payment and Tax Payment Wizard

Hi All,
We would like to make a down payment and apply service tax to it.
Once i create a AP Down payment invoice with the service tax, make an outgoing payment against it, create AP Invoice and adjust the down payment, now after following this procedure, when i run the tax payment wizard, the service credit available becomes zero.
It works well in case of partial payment but not 100% advance. Has anyone faced this issue??
How can this be resolved?
Thanks,
Joseph

Hi Rahul,
Exactly! The system doesnt consider the tax on DP when we check through Tax Payment Wizard.
I guess this is a missing functionality? What do you think? Because there may be a chance that the service tax may get deducted at down payment! What is your take on this?
Looking for valuable responses from other experts too!
Thanks,
Joseph

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Reena-
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Reply for difference between partial Payment and residual payment
Assumption: An expense of Rs.20000 is accounted.
Example of partial Payment
Step one. When the Vendor invoice posted
Exp           Dr     20000
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2nd step: At the time of payment If Partial payment method adopted.
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(T Code FBL1n)
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Vendor A/c                Cr          10000
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Hi,
What is difference between partial payment and residual payment and what is the effect of this payment on Payment Terms and Customer aging analysis report?
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Hi ,
We can take the example given by BSR
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Both the Invoice(2000) and Partial Payment(1000) documents remain as open items.
If you make a residual payment, you can see the payment terms ZPTERM in the residual document i.e. payment terms are inherited from the invoice.
And the baseline date is same as invoice date. so ageing of residual document is same as that of invoice.
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Hi Soumya,
These two are conept and it depends on your company how they want to process claring.
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HI expert!!!
i have one scenario that advance payment and down payment with different tax code.
in this time, advance payement post to vendor with po number, we do not know how to use tax code V1(deductable tax) or VF(Non-deductable tax), so we post advance payement amount by tax code V1(deductable) even though the amount included both. but we must know how amount is defined deductable tax or non-deductable tax when invoice.
when we want to post down payment with VF , we could not post it because advance payement posted with V1 tax code.
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thank you in advance!!

hi,
As per my knowledge their is no difference between advance payment and downpayment.
and tax code is used for taxes purpose not for the payment terms.
taxcode is created in ftxp.and related percentages are maintained in fv11.
ex:-
if i want excise duty - 10% on basic value
education cesse 2% on excise duty
sec.education cesses 1% on excise duty
then fitst i have to create 3 condition types and that 3 condition types are used in my taxprocedure and that taxprocedure is assigned to country code..
after that i am created one taxcode in ftxp like v1= exciseduty10%educatiocess2%sec.edu.cesses1% with this description.
and given the values for that conditions in fv11.
and used that v1 taxcode in your p.o in invoice tab.
and payment terms are came from vendor not from taxcode.
Thanking you.

Service Tax On Down Payment and Tax Payment Wizard

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