Hi Friends, I have configured the tax on sale and purchase, if I select “

Hi Friends,

I have configured the tax on sale and purchase, if I
select “calculate taxes on net amount” in editing option
then it calculate the tax correctly. But I want to
calculate the tax out of gross amount of the invoice. For
example I get a invoice for Rs. 20,000/- and now I want to
calculate the tax out of Rs. 20,000/- (20000/1.04=19230
taxable amount and tax is 770/-). I would be appreciate if
any body can help me in this regard and tell me the
configuration of the same.

Regards

Anil Kumar

Question Posted / anilsantraj

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Hi Friends, I have configured the tax on sale and purchase, if I select “calculate taxes on n..

Answer / anant maheshwari

Hi

Please Check OBY6 and check the settings for tax base is
net value or discount base is net value.

Regards

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Hi Friends, I have configured the tax on sale and purchase, if I select “calculate taxes on n..

Answer / anil seth

WHEN YOU ENTER INVOICE BY ADOPTING TEAK CODE FB-70 THEN YOU
DONT ENTER THE INVOICE VALUE NET HERE BECAUSE WHEN YOU
ENTERED IT THE SYSTEM CALCULATE AUTOMATICALLY TAX
ASSIGNED.YOU JUST CLICK THE BUTTON CALCULATE TAX AND ENTERED
THE NET VALUE OF INVOICE YOU SEE THE CALCULATED AMOUNT OF
TAX AND YOU HAVE TO RETURN BACK OF THE MAIN SCREEN AND
ENTERED THE GROSS VALUE OF BILL.THEN CLICK CALCULATE TAX
.SAVE IT

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