on 12-19-2013 6:17 AM
Dear All,
I raised one scrap sale for a material in this i got details as follows,
On Customer : 4500 /-
On Scrap sale: 4243.29 /-
VAT 5% : 212.16
TCS 1% : 44.55
Please tell me how the system calculates the TCS & VAT for the given total amount.
Regards,
Nageswara Rao.D
Hi Friend,
Kindly Note,
The Customer Sale = 4500.
Scarp Sales = 4234.29.
Vat 5% which is calculating on Scarp Sale Value So the Value becomes now = 212.1645
TCS 1% which is calculating on Customer Sale Value, So the Value becomes now = 45
In this way the Value is calculating.
hope this will help you.
Regards,
Kundan
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VAT is calculated on actual Scrap sale which is
4243.29 * 5% = 4,455.45 in Subtotal.
up on which TCS 1% is calculated
4,455.45* 1%= 4500.
Regards
Hari.
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