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Reply from DD_guest on Aug 21 at 7:09 AM Hi Roy,
The requirement is not an assumption.
Where a service provide is not registered ( usually a case of Individuals , propietors, unregistered partnership, etc), and it is providing services for which they wil raise an invoice only for the service amount.
In such cases, the government has given the responsibility to the service receiver ( who is registered) to deduct the amount of service tax and deposit the same to the treasury. Such amount of service tax is available for input credit.
So can you help in configuring SAP so that I can get the accounting entry that I have requested for in my previous post.
Regards,
| | | ---------------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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