Can anybody explain me , How to create a TAX code(fv11) for below mentioned structure.
16%2%1%VAT 8%DEDUCTIBLE4.5%NON DEDUCTIBLE
.please explain me the 16% stands for what , 2%for what,1% for what etc
For which type of vendor , and material I want to use this tax code.. and explain what is deductible & non deductible..
in your tax procedure taxinn
u must have condution tyoe for bed esec higher edcess vat deductable and nondeductable
JMOP IN: BED setoff %
JEC1 IN Ed Cess Setoff
JSEP IN:A/P SECess setoff
JVRD IN VAT Raw Deduc
JVRN IN VAT Raw Non Deduc
maintain tax persentage in tahat fv11 for that above condition type
JMOP IN: BED setoff % 16
JEC1 IN Ed Cess Setoff 2
JSEP IN:A/P SECess setoff 1
JVRD IN VAT Raw Deduc 8
JVRN IN VAT Raw Non Deduc 4.5
Deductable means u will get set off against this ie this value will not be added to material cost
and nondeductabe meean that this cost will add to material; cost
go to FV11 put cond type say JMOP
click on plant vendor and material
put plant vendor material number and put persantage 16
in same way do for others
hope issue is solved
Message was edited by:
1.To create Tax code Tcode FTXP.
2.To maintain condition types Tcode FV11
16% is for excise duty
2% is for ECess
1% is for Higher ECess
Deductible means a tax amount of which you can claim setoff that means it can be deducted from the purchasing price.
Non deductible means the tax amount is loaded on material( no setoff)
Hope answered ur querry