Answer / sachin

It is a Concept of taxation which helps in avoiding the
cascading effect of taxes. Eg. Whenever a manufacturer buys
goods and pays taxes he is given a credit of the taxes and
while selling the goods he is allowed to take the credit of
the taxes which he has paid, and he is asked to pay the net
difference only avoiding the cascading effect

Answer / jesu

Cenvat (Central Value Added Tax) has its origin in the
system of VAT (Value Added Tax), which is common in West
European Countries. Concept of VAT was developed to avoid
cascading effect of taxes. VAT was found to be a very good
and transparent tax collection system, which reduces tax
evasion, ensures better tax compliance and increases tax
revenue.

I know that in version ECC6 exists the functionality of document splitting like this: If an Invoice is for 11,000/-.Then we write the GL as : vendor A/C Dr XXXX to Purchase 1 XXX to Purchase 2 XXX to Tax XX But through Document Splitting we can write it based on the %age of sharing as 80 : 20%.. Vendor A/c 8,800(DR) Purchase A/C 8,000(Cr) Tax 800 (Cr) Vendor A/C 2,200 (Dr) Purchase 2000(Cr) Tax 200(Cr) This is called Document Splitting But when you talk about tax, you mean a line item created manually like tax or a document where you complete the tax code and the line is created automatically? Thanks a lot in advance. REgards,Lorena

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