Tax Calculation Problem

Hi All ,

I have a query ,

i have to calculte the tax like this

baseamt :1000

service tax : 7.2 % of base amt

VAT : vat 12.36 of 75% of base amt (means 750).

any one has idea what base formula i should use to acheive this.

Regards,

Shailesh

Make the standard deduction to 25 % in the tax details for calculation of 75% on the Invoice Base amount.

regards

Rahul

Hi Rahul,

i have done this standard deduction to 25 % in Tax Detail Table but it is not working , any thing i have to do in structure for this.

Regards,

Shailesh

It will calculate by the same process.

Set the service tax %age and vat %age in the respective fields and mentioned the 25% in the standard deduction for its tax calculation.

One more thing, check whether the tax liable is checked or not in the customer/vendor card.

Regards

Rahul

Hi Rahul,

Tax is calculating but , service is correct, but the Vat amount is coming on base amt instead of 75

% of base amount, aftre putting the standard deduction to 25% still the tax is calculating on actual base amt instead of 75% base amt.

Regards,

Shailesh

Has any one solve this type of issuse.

Instead of defining the Standard deduction % in Tax Details,define it in Tax Area setup and it will work.

Regards

Ratheesh

Understand the functionality of Non ITC Claimable Usage % .It will calculate.

Hello Ratheesh,

In which feild i have to define the Value in Tax Area setup

Regards,

shailesh

Hi Amol,

Where I will find this Functionality of Non ITC Claimable Usage %.

regards,

shailesh