VAT calculation on Credit Memo

amanpreet.singh

Dear All,

I wanted to calulate VAT on Charges(item) in case of rate difference at the credit memo for Purchase...

The setup for VAT has been made in SALES TAX SETUP (INDIAN LOCALIZATION)....

Please let me know if you guys have the solution to it.

regards,
Amanpreet

ssingla

Define tax group code in the charge (item) and then use is like a normal item.

amanpreet.singh

Thanx for the reply Sandeepji,
I have already defined the TAX GROUP code in the item charge...still can't get the value.....

Does it require customization......It’s strange that no one has come across this issue......

Regards,
Aman

ssingla

Check on Purchase line and zoom and check for the following value:
Tax Area Code,
Tax Group Code,
Tax %
Tax Liable

If the values are not coming then there must be some issue with the Sales Tax Setup.

amanpreet.singh

As far as Tax Area code and tax Group code are concerned they are appearing fine...
The tax liable and Tax % is not getting updated.......

Tax Liable in the vendor card has been marked YES.....

(Just to remind...I have taken Charge (item) in the Purchase credit Memo Type Column)

Please let me know where I could have missed....


Regards
Aman

amanpreet.singh

Dear all,

Our client Purchase Item the rate of which are fluctuating on daily bases.

In such case he has to post a Purchase Credit memo to the vendor without affecting the item quantity.

Item charges is one way-out to Nether effect the Item Quantity and the same time get correct inventory Valuation.

If we select Item Charge in the TYPE column of the Credit Memo, Sales Tax is not getting calculated for the same.......

I don’t know how others are handling such cases.....