Special excise duty on PO and cancel in AP invoice?
Hello
I created a PO,it is automatically defualt tax.
Assume PO detailt:
ITEM pencil 10QTY*5=50
GST =50*16%=8
Special excise duty 50*10%= 5
Receipt entry
Dr Receiving inspection Rs 55
Cr Ap accrual Rs 55
Receiving transaction
Dr charge account Rs 55
Cr Receiving Inspection Rs 55
At the time of invoice creation in payable and matched to the PO with the amount 50 and then press calculate tax option.It automatically create two line(one for GST(Recoverable) and other for special excise duty(non recoverable)) total invoice line is Rs 63(item+gst+sed) .Payable person check the GST tax and Special excise duty amount that should be zero.He cancel the GST and SED from the tax detail option in invoice,then total invoice amount will be Rs 50 and validate invoice and run create accounting
I created a PO,it is automatically defualt tax.
Assume PO detailt:
ITEM pencil 10QTY*5=50
GST =50*16%=8
Special excise duty 50*10%= 5
Receipt entry
Dr Receiving inspection Rs 55
Cr Ap accrual Rs 55
Receiving transaction
Dr charge account Rs 55
Cr Receiving Inspection Rs 55
At the time of invoice creation in payable and matched to the PO with the amount 50 and then press calculate tax option.It automatically create two line(one for GST(Recoverable) and other for special excise duty(non recoverable)) total invoice line is Rs 63(item+gst+sed) .Payable person check the GST tax and Special excise duty amount that should be zero.He cancel the GST and SED from the tax detail option in invoice,then total invoice amount will be Rs 50 and validate invoice and run create accounting
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