WHT Tax Issue
Dear All, Kindly help me regarding this scenario Prepayment Invoice AA-P20 | ||||||||||||
| Line Type | GST 16% | Invoice Withholding | Payment Withholding | |||||||||
| Item | 431,034.00 | 16% | 1% | 3.5% | ||||||||
| Tax | 68,965.44 | 3.5% | ||||||||||
| Withholding | -4310.34 | |||||||||||
| Withholding | -17499.9804 | |||||||||||
| Total | 478,189.12 | Net Payment | ||||||||||
| Actual Invoice | AA-A21 | |||||||||||
| Line Type | GST 16% | Invoice Withholding | Payment Withholding | |||||||||
| Item | 689,655.00 | 16% | 1% | 3.5% | ||||||||
| Tax | 110,344.80 | 3.5% | ||||||||||
| Withholding | -6896.55 | |||||||||||
| Withholding | -27999.993 | |||||||||||
| Total | 765,103.26 | |||||||||||
| After Application of Prepayment Invoice AA-P20 on Acctual Invoice AA-A21 Showing result as below | ||||||||||||
| Line Type | GST 16% | Invoice Withholding | Payment Withholding | |||||||||
| Item | 689,655.00 | 16% | 1% | 3.5% | ||||||||
| Tax | 110,344.80 | 3.5% | ||||||||||
| Withholding | -6896.55 | |||||||||||
| Withholding | -27999.993 | |||||||||||
| Prepayment Item Line | -431,034.00 | |||||||||||
| Prepayment Tax Line | -68,965.44 | |||||||||||
| Withholding | 4,310.34 | |||||||||||
| Total | 269,414.16 | Net Payment | ||||||||||
| But In actual above result is not correct because at the time of application of Prepayment on Invoice, already withhold (At time of payment 3.5%) amount is not consider | ||||||||||||
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