Tax Recoverable Account problem - India localization

rahulsingh

Dear All,

I am working on Navision 4.0 SP3 version of India Localization.
I am facing a problem regarding sales tax on Purchase.
I created a purchase order and assigned 3 % cst for that vendor, post that transaction.

In chart of accounts sales recoverable account is not getting any amount
even posted Purchase invoice table getting this amount.
, the table Tax entry is getting amount and account number.
Even i Assign the sales tax recoverable Account in States.

wahat is the problem. why that account is getting any value.

But for sales transactions the amount is posting properly to the tax payable Account in chart of accounts.

so what is the problem , how to resolve this isssue.

thanks and regards

ssingla

Latest Hotfix have ensured that the amount of CST, if loading on inventory is marked true in structure, is merged with the purchase account and posted in g/l. There will be no sales tax recoverable/paid entry as CST once paid on purchase is a expense.

rahulsingh

Thanks Mr.Sandeep,

Latest Hotfix have ensured that the amount of CST, if loading on inventory is marked true in structure, is merged with the purchase account and posted in g/l. There will be no sales tax recoverable/paid entry as CST once paid on purchase is a expense.

I am unable to understand u r valuable explanation.So could u throw some detailed explanation on this issue.If it is possible please throw some example.

i am waiting for u r valuable reply........

thanks and regards

ssingla

unlike old versions the amount of CST is added in the purchase value and posted in purchase account. For this the requirement is that the "loading on inventory" should be marked true in the structure.
This was a long standing demand from the users and MS did it.

rahulsingh

Thanks Mr.Sandeep,


I did not place any check mark In Lodaing on Inventory Field.
Even it is not updating any sales tax amount in recoverable Account of chart of account.Client doesnot want update this sales tax amount on Inventory.
So please throw some more light on this issue........ ](*,) ](*,)

Thanks & Regards