how to maintain taxes on net price as 12.50% and 20%

[Former Member]

hello,

please help me still i am not able to slove my taxes problem,my issue is,

1) I maintaining discounts on basic price,from basic price discounts will deduct,then i am getting net price.

2) On net price i have to maintain tax as 12.50% first.

3) There are some materials on which business wants to give 20% vat tax,there is secinario in which both taxes will be applicable,i am not aware how to do this please guide me what to do.

[jignesh_mehta3 · Accepted solution]

Hello,

You can do this with Tax Classification Boxes.

For the Materials to be charged at 20% VAT, in material master maintain the necessary tax classification indicator.

Subsequently maintain Condition Records for the same.

Hope this helps,

Thanks,

Jignesh Mehta

[Former Member · Accepted solution]

can you please elaborate how to maintain all this configs,it will be very help full.

[Lakshmipathi · Accepted solution]

In sales view tab of material master, under tax classification, maintain two numeric values; one for normal one and another for 20%. In your access sequence for tax condition type, include tables like 040 & 041. Now in pricing condition, maintain the condition record for table 041 wherever you want the system to fetch 20%.

Of course, needless to mention, you should have different tax codes for 12.50% and 20%

G. Lakshmipathi

[Former Member · Accepted solution]

Thanks a lot very help full answers it has solved