Tax amount calculation
Hi,
Can some one help me to explain how the tax amount is calculated.
I have a tax procedure assigned to my country. I created a input tax code.
Now i used this tax code while creating a PO i entered the tax code.
How the system determine the base amount for BASB condition type to calculate tax?? Will it take from the PO ??
regards
raghu ram
Edited by: Raghu Ram Thatavarthy on Jun 23, 2009 12:17 PM
Hi
In the Tax codes, you would have attached the percentage to the account keys, which has the condition types attached to it. In the PO pricing procedure, the basis for calculation of the Tax would be available ie on what value tax needs to be calculated against the condition type. Account key can be seen against the Condition types. and from the tax codes percentages are taken and taxes derived.
Regards,
Lakshmanan Krishnan
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when i am posting FB60 by using this tax code its calculating tax amounts wrongly.
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Vendor Cr 20,000/-
Expense Dr 17,940/-
Sevice tax On OH Dr 2,000/-
ECS on OH Dr 40/-
SEC on OH Dr 20/-
But Systm Calculating like below..
Vendor Cr 20,000.00
Expense Dr 18,132.37
Sevice tax On OH 1,813.24
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Kindly note that Tax will always be created on Amount Exclusive of Tax. Let me explain with an example.
The form of invoice would be in the following form :
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Add : Serv Tax @10% 2000
Add : Ecess & SHCess 60
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Thus if you enter Against Expense 20000 as net invoice amount in FB60
then following entry will be generated :
Exp ..... Dr. 20000
Serv Tax Dr. 2000
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To Vendor 22060
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Exp ..... Dr. 18,132.37
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Diagnosis
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