Group Tax Setup
Hi all,
Please guide the tax setup with respect to below detail:
1. We have to apply General Sales Tax (GST) of 19% (17+2) group tax; 17% is Recoverable & 2% is Non-Recoverable.
2. 17% is GST & 2% is Extra tax.
3. Actually we already have 17% GST (Recoverable) with it's respective tax account and its working fine.
4. Also need help that may we use the existing one or have to create new 17% GST for said group.
5. For 2% Non-Recoverable we need calculation of tax amount to be accounted in item account at AP invoice line level & need the cost of item to be updated accordingly.
If referring any note then please must consider the said scenario.
Please guide the tax setup with respect to below detail:
1. We have to apply General Sales Tax (GST) of 19% (17+2) group tax; 17% is Recoverable & 2% is Non-Recoverable.
2. 17% is GST & 2% is Extra tax.
3. Actually we already have 17% GST (Recoverable) with it's respective tax account and its working fine.
4. Also need help that may we use the existing one or have to create new 17% GST for said group.
5. For 2% Non-Recoverable we need calculation of tax amount to be accounted in item account at AP invoice line level & need the cost of item to be updated accordingly.
If referring any note then please must consider the said scenario.
Tagged:
1