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Tax on tax scenario in 2007A

Hi all

I am using Business One 2007A PL42

All these time we had only VAT 12% . But recently government has introduced a new tax NBT 3%. Calcuation will be as follows

Invoice Amt = Rs 100

NBT = Rs 3 (3% on invoice Amount) (this tax is mandatory even if the item/cusotmer is tax exempt or taxable)

Tax = Rs 12.36 (12% on invoice Amount + NBT) and the NBT tax and VAT has to go to two different accounts in GL and we shld be able to take it differently when invoice is printed.

I was unable to figure out a solution in 2007 A. Do anyone have solution for this if so please help me.



Former Member
Former Member replied

You may check this thread:

Tax After Tax



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