EBTax Issue to split the tax --URGENT
HI Experts,
We have a requirement to increase the existing service tax from 14.00% to 14.5%.
Business wanted the 0.5% from 14.5% to be charged to expense account and 14.00% will be charged to tax liability account which we set on the tax rate.
So it would be like
14.5% = 14.00 (Liabillity account) + 0.5% ( Exepsne account)
I would like to know , how can we split the 14.5% into two tax lines so that when user will apply the tax 14.5% , 14% will be tax account and 0.5% will be expense account to hit.
or
is there any way to apply two taxes on invoices with 14.00 and 0.5% ?
Regards,
Mayur