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FTXP

Former Member
0 Kudos

Dear friends,

I've to create a new tax code as follows:

1.Service Tax= 10% on Basic

2.Edu Cess= 2% on Basic

3.High Edu Cess= 1% on Basic

4.LST= 1% on 123

Plz tell how to config this in FTXP. Kindly give step by step xplanation as I'm new.

Rds.

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
0 Kudos

Hi,

You would need to create steps and assign account keys in tax calculation procedure in your country.

Then at FTXP, you would need to create a tax code and assign the % for each of these account keys.

Goto OB40, and assign the corresponding GL Accounts for values to flow into.

Good Luck

Redoxcube

Former Member
0 Kudos

Dear Redoxcube,

You said, "You would need to create steps and assign account keys in tax calculation procedure in your country." Can you explain how to create steps, how to create account keys & how to assign a/c keys to tax calculation procedure? Plz explain absolutely right from step 1 to step last.

Thank you very very much,

Rgds.

Former Member
0 Kudos

Dear Redoxcube,

Where do we define A/c keys used for posting?

Rgds.

deepa_khatri
Active Contributor
0 Kudos

Hi,

In VKOA assign posting keys.

thanks

deepa

Former Member
0 Kudos

Dear Deepa Khatri,

Define not assign. Where do we define? Assigning I know.

Rgds.

Former Member
0 Kudos

Hi,

You can create Account keys in the below given path:

IMG -Financial Accounting Global Settings -Tax on Sales/Purchases-Basic Settings-Check and Change Settings for Tax Processing.

Rgds

Prasad

Former Member
0 Kudos

Hi,

Use the below link for configuring your tax procedure & account keys.

This will be useful.

Rgds

Prasad

http://help.sap.com/saphelp_erp2005vp/helpdata/en/9e/0b941b0fd64873bc54e8745fb044e7/content.htm

Answers (2)

Answers (2)

Former Member
0 Kudos

Go in SPRO to Finaicial Accounting Global settings->Tax on Sales/purchases->

Here you will find the relevant settings to be done under Basic settings and Calcluation node and Posting.

1. Create a condition type for Service tax,edu cess and high edu cess and assign Account key to each of these condition types. The account key can be same or different for each depending on for which of these taxes you want to post to a seperate account.

2. Go to Define proecedures in Check calculation procedure and there ensure that the condition types defined above and account keys are correctly assigned with the correct step sequence number for your calculation. e.g for LST in your case put the Base amount to include the step numbers for serivce tax edu.cess and high edu cess.

3. Go to define tax accounts in OB40 and maintain the tax account to be posted for each of your relevant condition types defined above.

4. Finally go to FTXP-define tax codes and enter the relevant rates and ensure that the entire calcuation procedure as defined above is in 1 and 2 is correctly seen.

Mark the GL account you have maintained for serv tax,educess etc with the indicator < (input tax) in tax category.

Thanks and regards

Kedar

Former Member
0 Kudos

Hi Siddhant,

Please go through these SDN links. These may be helpful for you.

[https://wiki.sdn.sap.com/wiki/x/Qc8]

[https://wiki.sdn.sap.com/wiki/x/uYjzAQ]

Regards,

Mike