Dealer Invoice

[Former Member]

Hi Friends,

I have prepared PO for Rs1000 and maintained Tax code as 12.5% VAT. Then During GR, I have captured Excise Invoice and maintained Assessable Value as Rs.750, BED Rs 200 and ECS Rs 50 and maintained MRP indicator in miscellaneous TAB. Then during J1iex, posted this Invoice, There also MRP indicator is ticked.Now In the invoice, Amount i have changed to Rs 750 from Rs1000 and selected Tax code as 12.5%VAT. now I am getting the accounting Entries as Vendor A/c 843.75

Provisional Liability Vendor Rs750 and Input VAT cdedit Rs93.75. Now my question is what about the rest of the VAT and Cenvat amount payble to vendor, where I can see for the rest of the amount CenvatRs250+VAT Rs31.25

Please Reply

[Former Member · Accepted solution]

Did u tick GR based IV in ME21N

Use the tax code with excise duty and VAT in MIRO

[Former Member]

dont use tax code as VAT 12.5% use tax code as (VAT12.5%+ED)

wherein u have maitained the condition record accordingly.

regards,

sujit

[Former Member]

Hi,

Thanx for reply.The assessable Value, in mycase if 700 is incl;usive of profit and taxes are not calculated on this suppose they have passed on Taxes on 500 as 14.42% Cenvat and VAT is calculated on PO price 1000.Hope you understood. Please reply......

Edited by: k prasanna on Oct 15, 2008 9:25 AM

[Former Member]

Hi

Please elaborate the problem, I think you will getting excise entry in excise accounting doc and while doing MIRO rest VAT will be generated

JOSH

[Former Member]

Hi

For dealer Invoice concept, in purchase order select tax code as V0. Do the GR and While doing MIRO select appropriate tax code.For ex V1 i.e 14%BED,2%ECs, 1%SEcess, & 12.5%VAT.

Hope it will help.

Regards

M P D Kamath