Vat calculation after abatement (WCT)- India -Help

pashya1972
pashya1972 Member Posts: 176
edited 2010-04-23 in NAV/Navision Classic Client
Hi

Can anybody inform as to how to define structure in case of VAT where tax is calculated after giving some abatement %.

E.g. Item Rate is say = Rs.10 and VAT is 12.5%
Normally system will calculate 1.25 as vat however in case of WCT it shd be calculated on the basis of 80% base amount i.e. 12.5% on 80% and it shd calculate tax Rs.10

Prashant

Comments

  • ssingla
    ssingla Member Posts: 2,973
    From the help:
    Standard Deduction
    Define the standard deduction available from the base price to calculate the VAT for the item category in the tax jurisdiction.
    CA Sandeep Singla
    http://ssdynamics.co.in
  • pashya1972
    pashya1972 Member Posts: 176
    I ve defined the set-up in the same manner but it does not consider std.deduction while calculating.
    Is there any other set-up required?


    Prashant
  • ssingla
    ssingla Member Posts: 2,973
    refer to manual. They give detailed explanation.
    CA Sandeep Singla
    http://ssdynamics.co.in
  • navuser1
    navuser1 Member Posts: 1,334
    ssingla wrote:
    refer to manual. They give detailed explanation.

    Thanks.

    Plz. provide me the MS link from where I can download the Material for the WCT.
    Now or Never

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