Deemed Export Sales Invoice

dhananjay

Hello All,
I am working on NAV SP3 , I am facing problem while doing transaction for deemed export. In India if you are making sales to deemed export party then you have to calculate excise duty first and then deduct excise duty, then calculate sales tax on basic value.
for example if basic value is 100 & excise is 14 and sales tax is 4, then
the invoice look like as follows:-
Basic 100
Excise 14
Total 114
(-)Excise 14
Net 100
Sales tax 4
Total 104

The accounting entries are as follows:-
Sales A/C credit by 100
Sales tax A/c credit by 4
Customer A/c debit by 104
DGFT a/c debit by 14
CENVAT payable a/c credit by 14

(DGFT means Director General of Forign Trade )
how can i handle this situation ?
if anyone have solution for this then please provide it to me.

rgds
dhananjay

AMITPATO

Hai dhananjay,

You can pass entry "DGFT a/c debit by 14 " by use of charges in structures.

Deep

Just to add a little,

The structure will include the charge percentage in negative as -14 or whatever percentage in negative with the account code of DGFT.

dhananjay

We are not able to insert negative value as percentage .


rgds
dhananjay

Deep

You haver to make changes in table properties. Remove minimum value=0.