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Service Tax Reverse Issuse- NAV 2009 SP1

Hi All ,

I have the follwing scenrio,

 Service Tax : 12.36 %  , 40% service tax pay by service receiver and 60% service tax pay service provider.

Amt : 1000, service tax for 40% on amt 1000 comes 49.2 and 60% comes 73.8, here in my case iam service receiver so i have to pay 49.2, and this amount will go to service tax entry table, I have upload the recent object also of reverse service tax mechanism,

Now when iam defing the reverse tax  40 % it takes tax to whole amt 1000, and tax comes 123, which is wrong .

Any idea what i have missed in setup.

Regards,

Shailesh

 

 

  • Shailesh,

    Questions about Indian taxes please post in Indian forum, I'll move this one.

    Reason is, that there are not much Indians that understand this awful taxation system, not to speak about people from other countries Confused, besides only IN localisation has ledgers you are speaking about...

  • In reply to Modris Ivans:

    Shailesh,

    Did you ever find a solution to this problem? If yes, would you mind sharing it with us?

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