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Reply from RTUCCELL on Aug 23 at 3:52 AM Hi all
without enter into the logic of the law, speaking from technical point of view, in Italy we have similar tax codes (fully or partial not deductible Vat) managed as following in FTXP:
considerating Tax percentage of 12,36%, as per Sandeep requirement, we create two line
1) 60% not deductible NVV Percentage = 7,42 (the system will post on cost account)
2) 40% deductible VST Percentage = 4,94 (the system will post on TAX account)
The code will work during invoice posting as Sandeep needs.
If you need to use fixed accounf in line 1) you have to use NAV procedure (but as I understood it is not our case).
Hoping these information will help you. if useful please mark as helpful
Regards
Rocco
| | | ---------------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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