How to do setups for Tax on Line Amount Prior Tax

Apr 30, 2024 11:46AM

Summary:

We have a requirement where Invoice is of 100 USD. On this, we have to charge Levy1 at 2.5%, Levy2 at 5%, VAT is 15%. But VAT needs to be calculated on 100+2.5(Levy1)+5(Levy2) i.e. 16.25.

I was trying to create Tax Basis formula for same but do not see anything getting populated on Compound Tax dropdown.

Can somebody guide how to meet this requirement through configurations?

Content (please ensure you mask any confidential information):

Version (include the version you are using, if applicable):

Code Snippet (add any code snippets that support your topic, if applicable):

How to do setups for Tax on Line Amount Prior Tax

Howdy, Stranger!