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VAT on Import Purchase !!!

Former Member
0 Kudos

Hello All

Sorry posting this query second time as have not got any solution when posted it few months back.

Need help for designing IMPORT pricing procedure for a specific case (Thailand).

Our client applies VAT - 7% on total value of the Import PO i.e. at the end.

Their Pricing Structure is like:

1 Basic Price

2 Freight

3 Insurance

4 Custom Duty

5 Surcharge

6 Excise

7 Internal Duty

Net value = (1234567)

and then

8 VAT on this Net Value.i.e 7% of (1234567).

They are paying this 7% directly to government and not to the Foregin Supplier.

Now this VAT amount is deductable as they are having a VAT return report submitted to the government each month.

i don't know how to handle this case..so request you all if anybody have idea please help me.

It is vey urgent...

Regards

Yogesh

Accepted Solutions (0)

Answers (1)

Answers (1)

Former Member
0 Kudos

Dear Yogesh

Try making a counter like that copy of the Total Value of that

1-7 On that value as Base you make your ZVAT condition

In the schema assign a Account key , Accrual key and assign a G/L account for it i.e The VAT Payable Account

You create the VAT Authority as a Vendor itself like our ExciseCommisionerate in the Imports Scenario

Take ZVAT and in the Condition Type assign the VAT Vendor

So when ever you raise a Invoice it will go in to the account of the VAT .

Check with these settings and test

Reward if useful '''

Regards

R.Rajaram