Hi, I have a scenario. I am making a Purchase booking entry for which service tax is calculated. My G/L entry is Freight and Carriage Outward Dr To Foreign Vendor (GTA) a/c eg: The Amount is USD 1000/- and the exchange rate for the USD is INR 50/-. Service Tax % is 10, eCess 2% and SHE Cess 1%. But after entering the Journal entry, when I go for Ctrl+F8, the Service Tax Base Amount is shown as INR 48745 and Service Tax Amount is shown as INR 1219. This is wrong. Can anybody provide a solution for the same. Thanks in Advance
Its not a Known Issue, but Indian taxation problem, so moved to Indian forum / Moderator
Did you ever find a solution to this problem? If yes, would you mind sharing it with us?