Down Payment with Calculated Taxes - VAT

Dear Friends,
We have an issue with the creation of the Downpayment using the T Code F-29. When the users are creating the Downpayment they need to account for VAT, let's say on receiving the Downpayment of 20,000 they also need to account for VAT @ 7%, thus making the total receipt to 21400. How can we account for the tax while recording the Downpayment? We notice that there is a box that can be checked for "Calculate Taxes" but how to eneter the percentage?
Your help would be highly appreciated.
Regards

Hi, Raj
I'm not sure I completely understand your issue, but you can define tax percentage through FTXP. I hope this at least points you into the right direction.
M Trein

Similar Messages

  • Vendor down payment with input tax

    Dear Expert
    My client receieves down payment with input tax, to meet their legal requirement for VAT filing, they have to book entries as below;
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    In this case, I can not use SAP standard T-code F-54 to clear down payment. But when I tried to create a manual JV to post entry with Dr. Expense and Cr. Down payment, it's OK, but then when I used F-44 to manully clear down payment doc by manual JV, I got problem because the amount in down payment is down payment amount + input tax amount, but the amount in manual JV is only down payment.
    Does someone have a solution?
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    Nicole

    Nicole,
    Which country is this requirement for?  As far as I know, there is no tax incidence on downpayment.  Input tax arises only when you receive the invoice, right?  Not when you receive a downpayment.

  • Advance payment and down payment with two diffierent tax code

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    hi,
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    sec.education cesses 1% on excise duty
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    after that i am created one taxcode in ftxp like v1= exciseduty10%educatiocess2%sec.edu.cesses1% with this description.
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  • Vendor down payments with TDS

    Hi Experts
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    Hi
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    TDS - S       Cr  200-
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    R.Ramakrishnaraj

  • Down Payment with reference capital PO (Down Payment Entry)

    Hi,
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    Hi,
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    Schilukuri

  • Can I post a down payment with a Special G/L indicator?

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    Dear Velu,
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    Edited by: Desi Stoyanova on Oct 20, 2008 10:05 PM
    Edited by: Desi Stoyanova on Oct 20, 2008 10:06 PM

  • Post down payment with different currency from request with F-48

    Hi all,
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    Hello,
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    Dear Velu,
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    Edited by: Desi Stoyanova on Oct 20, 2008 10:05 PM
    Edited by: Desi Stoyanova on Oct 20, 2008 10:06 PM

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  • How to link Down Payment with Sales Order

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    Shazad

    Hello Shazad,
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    Hi experts,
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    Thanks In advance
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    reward if helps !!!!!!

  • Help Needed with creting down payment request without tax from order

    Hello,
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    TDI

  • Down Payment with Tax Juristiction

    Hi All,
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    Vinu Nanjan

    Hi,
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    Regards
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    Tadeusz

  • Down Payment Received - Output Tax Account definition

    Hi,
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    I appreciate your help.
    Thank you

    > Hi,
    >
    > I have defined reconciliation account for down
    > payment received under OBXR, and it works fine.
    > However, the issue comes when we post output tax
    > received along with customer down payment. I get the
    > error "No taxes on sales/purch.are allowed for
    > account 214010, O1 is not allowed". 214010 is our
    > customer down payment account.
    > <b>Go to your GL account 214010 in FS00 in change mode and make the following settings from F4. < Output tax account</b>
    > It looks like I have to define tax account under
    > "Define Tax Accounts for Down Payments Received
    > (OB40)" and also "Define Account for Tax Clearing
    > (OBXB)". I am not sure where in OB40 and OBXB I have
    > to define these accounts. Or is it enough if I just
    > define tax account for down payment under OB40 and
    > don't do anything in OBXB.
    > <b>Once u make the above settings then the system will tell you whether you need to define other accounts for postings once you make postings.</b>> I appreciate your help.
    >
    > Thank you

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