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From 1st Dec 2019, excise tax will be applicable on sweetened products, tobacco products.
From 1st Dec 2019, excise tax will be applicable on sweetened products, tobacco products.
How to handle excise tax in NetSuite?
Below are some work around's please suggest the best practice:
SOLUTION 1:
1. Create two other charges items for purchase & for resale. Apply the specific excise tax account. And use this excise tax on SO/PO wherever the excise tax is applicable.
2. Create saved search to show the excise tax amount.
SOLUTION 2:
1. Create two Non-Inventory items for purchase & for resale. Apply the specific excise tax account. And use this excise tax on SO/PO wherever the excise tax is applicable.
2. Create saved search to show the excise tax amount.
2