How to do critical percentage setting in tax code in FTXP

[former_member332457]

Dear Experts,

Can anybody guide me how to make the below tax percentage setting in FTXP?

Tax code settings to be done in the following manner.

4% on basic amount ( Invoice or PO amount is basic + 4% VAT)

90% on 4% to Input credit account

10% on 4% to expense account.

for ex: 1000 basic amount

4% on 1000 = 40

90% on 40 = 36

10% on 40 = 4

entry Cr 1040.00

Dr 1004.00

Dr 36.00

[Former Member]

This message was moderated.

[former_member464436]

HI,

When u create a tax procedure, you have to create a new conditions as follows.

S.no Disc From to Condition type

100 Basic Amount

110 Vat 100 100 XX1

120 Input credit amount 110 110 XX2

130 EXP 110 110 XX3

Then when you are going to create a TAX code it will display condition types according to the the tax procedure. Against Each Condition type enter the respective tax rates.

Ex: TAX Code X1

100

110 XX1 4

120 XX2 90

130 XX3 10

This is how you can define tax rates in one tax code.

Regards,

Venkat

[Former Member]

HI,

It will go as per conditions and tax procedure.

Regards,

satish

[Former Member]

Hi

Please let me know you want to create the tax procedure or only you want to create new tax code and you your tax percentage against the condition type.

if you have already created the tax procedure and you want maintain the tax percentage then compare the related tax code percentage and create new tax code giving you values maintained in above mail.

Regards

Ram