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Reply from SRINATHKODANDA on Aug 20 at 2:36 AM Hi=0D=0AThe Service tax and Withholding Tax are two separate statutes and o=
n Service contracts both are applicable. The withholding Tax is calculated=
with separate configuration in Vendor Master, Withholding Tax type, and Wi=
thholding tax code. =20=0D=0A=0D=0ABut Service tax need to be configured i=
n Transaction code FTXP and create a Tax code for service Tax, while simula=
ting the transaction remove the check box "CALCULATE TAX" and enter the s=
ervice tax amount manually and save the transactions. =20=0D=0A=0D=0AIf sup=
pose while doing MIRO you can configure the Rate for Tax code in Transacti=
on code FV11.=0D=0A=0D=0AMy entries generally =20=0D=0ADr. Service Exps A/=
c 100.00=0D=0ADr. Service Tax input 12.26 (Calculate TAx check box is=
removed)=0D=0ACr Vendor 107.36=0D=0ACr Withholding Ta=
x (System calculated) 5.00=0D=0A=0D=0APlease post in case u have further=
questions.=0D=0A=0D=0AThanks=0D=0Asrinath=0D=0A=0D =0A=0D=0A=0D=0A-----Orig=
inal Message-----=0D=0AFrom: "Community_Member" [email@removed.=
com]=0D=0ADate: 08/19/2012 08:29 PM=0D=0ATo: "SRINATHKODANDA" email@removed=
=0D=0ASubject: RE:[sap-acct] Service Tax Configuration=0D=0A=0D=0A=0D=0A=
=0D=0ACan anyone help in configuring the new service tax .=20=0D=0ASandeep =
if you have cracked how to go about please share.=0D=0AI feel we could use =
a combination of tax codes and withholding tax=0D=0A=0D=0AHowever, due to t=
oo many scenarios, Normal case & abatementWe would end up with too many WH=
T tax codes=0D=0A=0D=0APlease share.=0D=0A=0D=0ARegards,=0D=0A=0D=0A-------=
| | | ---------------Original Message---------------
From: Sandeep Jain
Sent: Thursday, July 05, 2012 1:36 AM
Subject: Service Tax Configuration
Dear friends,
As per new service tax law:
60% of service tax will be credited to vendor and 40% will payable by
company direct to the authorities and a credit of service tax will go to
the service tax credit gl.
Means if 12.36% is service tax
service dr 100/-
service tax credit dr 12.36 ( Balance sheet account assets side)
vendor cr- 107.42
service tax payable -cr 4.94( Balance sheet account current Liability side)
Please advise how to configure tax code, pricing for service po, and how to
make direct fi posting
--
With warm regards,
Sandeep Jain ( Choraria)
SAP Certified Associate |
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