Tax code creatinon..?
Can nybody explain me , how to create new tax code and what are things i have do in configuration part
FOR eb, Z1 is tax code
Z1- ECess 14%Secess2%Hsecess1% + vat4%
For tax code how we have to configure and create in SAP
Please explain me in Both tax procedures (TAXINN & TAXINJ)
Gregory Mathews replied
Create tax code: FTXP
Your country will be assigned to a tax calculation procedure (either TAXINN or TAXINJ) in T.Code OBBG.
Go to T.Code FTXP.
Enter your country code. (IN)
Enter the tax code, its description and tax category as input tax.
When u click enter, you can see all the tax elements(Condition types) in tax calculation procedure there.
Enter the tax percentage as 14 for condition type for ED
Then 2% for Secess and 1 % Hsecess and 4% for VAT condition type and save.
In the case of TAXINN we will not maintain any % in the tax code.
Just save the tax code without entering any value or % for the condition types.
Then go to FV11 and enter the condition type for ED (14%)
Then clikc enter.
Then select the key combination as per your requirement as plant/material vendor or tax classification as per your clients requirement.
Then maintain the required % for that tax element ie 14% for the correct combination and save.
Similarly give the condition types for Scess,Hcess and VAT and maintain the tax percentage for the combination as per your clients requirement and save.
So when you enter the tax code in the PO, if TAXINJ, the calculation will be based on the % mentioned in the tax code and In the case of TAXINN, the condition record values with the correct combination will be called and the tax calculation will be carried out.
Hope this helps