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SERVICE TAX INCLUDING IN INVOICE

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sneha antony
on 2/14/14, 9:18 AM 1,092 views

Hi,I WANT TO INCLUDE AND CALCULATE SERVICE TAX(12%),EDUCATION CESS(2% OF SEVICE TAX-12%) AND HIGHER EDUCATION CESS(1% OF SERVICE TAX) WHEN i GENERATE INVOICE TO A CUSTOMER FOR THE PURPOSE OF SERVICE.HOW CAN THIS BE DONE?

0
Kevin Sawyer
On 2/14/14, 1:03 PM

If I understand your question correctly, you need to create several taxes, one at 0.12 (12.00%), one at 0.02 x 0.12 (0.24%), and one at 0.01 x 0.12 (0.12%) and apply them all to that customer for services charged.

i mean if a commodity costs 100 ,the service tax will be 12% and in amount it will be 100 * 12/100=12 ,Education cess will be 2% of that 12%(ie 12 * 2/100=0.24) and higher Education cess is 1% of that 12%(ie 12 * 1/100=0.12).So the total tax amount will be 12(service tax ) +0.24(education cess ) + 0.12 (higher education cess ) = 12.36%.These tax amount need to be calculated separately or as a whole in the invoice.

sneha antony
on 2/14/14, 2:17 PM

Create three taxes, 0.1200, 0.0024, and 0.0012. Create invoice. Create $100 line item and apply all three taxes to that line item. Invoice total will be $112.36 as desired.

Kevin Sawyer
on 2/14/14, 7:16 PM

another issue regarding taxes is when more than one tax is applied to a single invoice line item only the tax selected first gets displayed in the tax table below the invoice line .I need all the applied taxes to get display in the tax table.What can be done for this?

sneha antony
on 2/15/14, 12:39 AM

Create an add-on that overwrites the RML for the Invoice document and includes lines for each tax type in the layout.

Kevin Sawyer
on 2/15/14, 3:42 PM

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Asked: 2/14/14, 9:18 AM
Seen: 1092 times
Last updated: 3/16/15, 8:10 AM