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VAT Deferment

manishgoyalmanishgoyal Member Posts: 52
edited 2010-12-08 in NAV/Navision Classic Client
FA(Fixed Assets) Item VAT Settlement:- Vat credit use next 3 years, not current year, Please give the solution.
Manish Goyal

Comments

  • ssinglassingla Member Posts: 2,973
    Deferrement period is defined by tax period in the States Form. In case you have defined 1Y then the credit will be available next year in the same month as the purchase invoice is posted in. If you have defined 1M then it will go in next month irrespective of the fact that is next year or not.
    CA Sandeep Singla
    http://ssdynamics.co.in
  • manishgoyalmanishgoyal Member Posts: 52
    thanks for suggestion but my problem is not resolved, because it take first instalment credit for current year/month.
    but i want to devide it in three installment in next three years not first in current year.
    Manish Goyal
  • ssinglassingla Member Posts: 2,973
    Have you referred the NAV 4.0 SP3 HF1 feature instruction manual? I have never implemented this functionality but the document was clearly showing that credit will be available in next period.
    CA Sandeep Singla
    http://ssdynamics.co.in
  • ssinglassingla Member Posts: 2,973
    which version are you working on?
    CA Sandeep Singla
    http://ssdynamics.co.in
  • manishgoyalmanishgoyal Member Posts: 52
    ssingla wrote:
    which version are you working on?

    i m currently working on NAV 6.0 SP1(FP1,HF1,HF2,HF3,HF4) (6.00.29626)
    Manish Goyal
  • chengalasettyvsraochengalasettyvsrao Member Posts: 711
    This Functionality available from the version Nav 4.0 SP3 HF1 , just go through the manual as suggested by SSingla.
  • AdministratorAdministrator Member, Moderator, Administrator Posts: 2,499
    [Topic moved from 'Navision Attain' to 'NAV/Navision Classic Client' forum]
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