Implementing new tax unlike VAT
Summary:
Dear Team,
VAT is already used in our organization. Now there is a requirement to add a new tax code. It's an indirect tax but not like VAT.
Unlike VAT, this new tax code should go to the cost centre along with the base cost.
To fulfil this requirement, following was done:
- Used the existing tax regime defined for the country.
- Used the existing TAX whose type is defined as VAT.
- For this TAX, created a new tax status and transaction tax rate.
- Created a new tax condition set and included this new tax rate.
- Edited the existing tax rule code to include this new tax condition.
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