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1 question plz it is a bit urgent.
When we are posting a transaction with service tax(say
12.5%)ok,
Now say the total amount is rs.100,000 now my question is
Here we have given 12.5% tax.Do we have to calculate
Seperatelly the tax amount(100,000*12.5%) or it will
Calculate on it's own.
If so what is the procedure to make it calculate it
Automatically.
Plz reply soon
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Answer Posted / majid khan md
Hi everybody i too have a doubt in sales tax can u plz help
me out from this problem..
Hi i was having the problem in Sales tax iam sending all
the details which i follow so plz check it n let me know
where i do the mistake always....
1.Define Tax Procedure (obq3)
2.Assign tax procedure to the country (obbg)
3.Define tax order for sales (ftxp)
4.Create sales tax liability account (fs00)
5.Define tax accounts (ob40)
(code linking to sales tax A/c)Here iam assigning the tax
liability account
6.Assignment of tax code in the customer master (xd02)
7.Assignment of tax code in the sales master (fs00)
8.Posting of outgoing invoice (f-22)
(3 line items will displayed)
the entry like :
01 customer debit 100000
to sales 95,238.09
to sales tax (liability) 4,761.91
But i gave the 5% tax code it means instead of taking 5%
its taking 4.76 % can you plz explain it....
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