VAT Settlement based on ABC Classification
Hi Team,
We need to run VAT Settlement Process in the system based on ABC classification.
A = Input VAT
B = Sales Made Within State
C = Total Sales
Eligible VAT amount for Settlement = (A *B)/C
e.g.
Purchases 1,00,000
VAT 5%
Input VAT 5,000 ---- A
Total Sales 5,00,000 ---- C
VAT 5%
Within State Sales 1,00,000 ---- B
VAT output 5,000
Output VAT eligible for Settlement 1,000
Please guide me how we can configure the same in the system.
Regards,
Krishnadas