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Tax code

Former Member
0 Kudos

Hi all,

What is the importance of TAX CODE in TAXINN procedure. in FV11, do i need to maintain all tax codes?.

How many possible tax codes can i have in TAXINN unlike taxinj(Many tax codes)?.

Please suggest some possible Tax codes for TAXINN.

Thanks.

Accepted Solutions (1)

Accepted Solutions (1)

former_member529134
Active Contributor
0 Kudos

Hello

First of all in taxinn you can have as many tax codes as u want, there is no restriction.

Since this TAXINN is condition bases tax calculation procedure, we need to maintain the condition records in FV11.

So If we maintain a condition record for a condition type in FV11 with a key combination with tax code, when we create PO and enter the tax code in the invoice tab, the condition values for that tax code will be fetched from the condition records maintained.

Hope it is clear.

Normally we maintain V0 for zero input tax, and A0 for zero output tax.

All other combinations can be made as your requirement with a suitable tax code.

Regards

Gregory Mathews

Answers (1)

Answers (1)

Former Member
0 Kudos

Hi there,

You can prepare as many tax code as your business needs.

You must understand every taxcode is unique and going to solve and uniquie purpose while creating condition records or calling the same in PO line item.

For Eg: I can have tax code say W1 which is having the description 14 % BED 2% ECS And 1 % Sec ECESS.

With all the condtions i will be using for this tax codes are for deductable tax ie is to say We will avail the CENVAT credit for the same.

So it will be uniquie tax code with condtions records created for this tax code for BED, ECESS, SEC ECESS.

Hope it clarifies

Regards

Sujoy