CST & TAX Account

samblue600
samblue600 Member Posts: 84
edited 2009-08-04 in NAV/Navision Classic Client
Hi Experts,

In State table in Sales Tax Setup , I find two fields, Tax Account(sales) & CST Account (Sales), I could not understand the use of these fields.

Does it mean that if I select Tax Type as CST in Tax Jurisdiction table, CST will get posted to CST Account (Sales) and If select VAT it will get posted to TAX account (Sales) :!:

Comments

  • ssingla
    ssingla Member Posts: 2,973
    Yes
    CA Sandeep Singla
    http://ssdynamics.co.in
  • samblue600
    samblue600 Member Posts: 84
    Ho!! Thanks Singla,

    But why the same is not given for Purchase, How will the purchase CST and VAT amount will get posted to separate account bit :?
  • reema
    reema Member Posts: 255
    samblue600 wrote:

    But why the same is not given for Purchase, How will the purchase CST and VAT amount will get posted to separate account bit :?


    First thing is better to learn the Basic concepts.

    When it comes to Purchases if it Vat purches , then it will post to separate Account what u define in state form.

    When it comes to CST purchases that doesnot post to any account , that cst amount will load on Inventory .( you cannot take it as Vat credit)
    reema

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