Indian Accounting package (l10n_in) shows all output taxes with taxscope Purchases and all input taxes under tax scope Sales.
example:
Tax name, Tax scope
(standard)Output Excise Duty @ 12.36%, Purchases
(standard)Input Excise Duty @ 12.36%, Sales
(standard)Output Service Tax @ 12.36%, Purchases
(standard)Input Service Tax @ 12.36%, Sales
Is this correct? am I missing something? (Per my knowledge, it should be opposite - Output for Sales and input for purchases)
Can anybody out there help me, please..
it is just a name...you can change it if you want
It is right only
While doing any sale Stock will go out but the amount will come, So it's input taxes (SALES)
While purchasing Stock is in(coming) but the amount is out, So it's output taxes (PURCHASE)
It is just a name you can change it.