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Reply from SRINATHKODANDA on Apr 4 at 8:39 AM Hi.
J1INMIS is the transaction code for withholding tax not for service tax. As per my understanding there is no Service Tax Register in SAP and does not seems to be required such registers. Also, due to changes in the Budget we have few points need to be understood thoroughly. The Service Tax - Output Tax. : The Service tax need to be charged to the customer and to be paid to Service Tax authorities in the next month.
Irrespective you receive amount from customer (Service Tax old rule the service tax remittance to the customer only on the receipt of the amount from customers). Therefore, one TAX CODE code being created for Output service tax and remitted to Government.
Service Tax - INPUT TAX:
When ever the vendor bills are being accounted the service tax input account need to be created with the TAXCODE. The service Tax input credit as per the new rules service tax input can be taken irrespective whether you pay the vendor. (As per old rules input can be taken only after making payment to vendors) Therefore, as per old rules there was 2 Tax codes created for INPUT Service Tax, and 2 tax codes were created for OUTPUT service Tax. INTERIM and FINAL Tax cods for Input and Output. Further one more step of transferring from Input INTERIM to FINAL Service Tax for Input and another INTERIM to FINA;L output service Tax. (This is because interim is created because input credit availed cannot be used input credit unless making payment to vendor). Now in the current budget changes you can have only two TAX CODES one for input and and other for OUTPUT. There are standard transaction codes are there to view the Taxable amount and Tax amount for each Tax codes. Please go thru SAP notes for Consulting guidelines for Input service Tax.
Thanks
| | | ---------------Original Message---------------
From: mrkmrk
Sent: Wednesday, April 04, 2012 3:05 AM
Subject: Service Tax Register T.Code
Can anyone tell me. In Which T Code we are using for service tax register? The service tax register is legal requirement of government because report format is common for all company, can this prescribed format is available in SAP? Whether yes, please give the T.code.
Regards,
Mrk |
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