CST and VAT added to material at the time of migo and miro

Question

Hi,
we are maintaining FV11 record in that case amount is displaying but condition value is showing "0"
Thanks a lot in advance for your confirmation,
Neelima
Edited by: Jeyakanthan A on Sep 7, 2011 10:03 AM

Answer 1

Hi,
VAT can be inventoried or can be used for Set-Off based on how material behave to the business. VAT can be inventoried, you should have a condition type with assigning of NVV key in tax procedure .VAT can be used for Set-Off , you should have another condition type and assigning to an accounting key ( For example: ZZV {new on}not to the NVV key certainly) in tax procedure in OBYZ t.code & in t.code: OB40 , ZZV should assign to G/L account for VAT Set-Off.
For VAT - inventoried & VAT -Set-Off, you should maintain records(FV11)with respective condition type for VAT - inventoried & VAT -Set-Off with individual tax code with tax rate.
For VAT can be inventoried, it will affect on accounting in MIGO transaction adding VAT amount to Inventory Account.
For Set-Off VAT, it will affect in MIRO transaction.
Generally CST always inventoried by business, it will affect on accounting in MIGO transaction adding CST amount to Inventory Account and you have to have a condition type for CST with assigning of NVV key in tax procedure, tax code for CST and maintain record (FV11) with CST condition type with CST tax code with a tax rate.
Regards,
Biju K