topic Re: vat calculation in Application Development and Automation Discussions

vat calculation

Former Member — Fri, 17 Jan 2014 10:36:32 GMT

Hello,

We are using tax procedure TAXINN.

Business required new tax code as below: (SET OFF: Service Tax : 12.36 %, VAT 4%, A.VAT 1%)

Base value
12.36% service tax on Base value
Total of base value + 12.36% service tax
4 Percentage VAT on 3.
1 Percentage A.VAT on 3
Total amount = 3+4+5

Also we have maintained value in FV11 based on condition type. System calculated service tax and additional vat properly but didn’t calculate VAT amount.

Can anyone help me resolve how to compute calculate properly?

Re: vat calculation

Former Member — Fri, 17 Jan 2014 18:02:07 GMT

Hi,

Create 5 tax Condition types, 3 for service tax + Cess, 1 for VAT and 1 for Adtl. VAT.

Maintain the same in your TAXINN procedure and define the steps as per the requirement which should address the calculation as needed.

Maintain the condition records for the above conditions in FV11.

If everything is already maintained, check the steps (From/To) in your tax procedure is correctly defined so that the above calculation can be achieved.

Also there are many threads available in the Forum / Google for VAT Calculation. So just do a search.

Hope it is helpful.

Thanks,

Re: vat calculation

Former Member — Tue, 21 Jan 2014 09:16:09 GMT

Hi,

You need to have seperate condition type for each subtax. Assign them to tax code, and in tax procedure as well at proper place. Assign this tax code to country and tax procedure. In FV11, you will see that all the conditions you asigned to this tax code, you will be abel to input values.