FrontAccounting forum — Facing New Problem regarding Taxation

Re: Facing New Problem regarding Taxation

null@example.com (Arjav.shah88) — Fri, 19 Jun 2015 13:03:11 +0000

One More problem i am facing when i m invoicing its asking me rates after tax can we apply tax separately

Re: Facing New Problem regarding Taxation

null@example.com (Arjav.shah88) — Fri, 19 Jun 2015 13:00:36 +0000

Cant bifurcate sale and service item that's the biggest problem

Re: Facing New Problem regarding Taxation

null@example.com (apmuthu) — Fri, 19 Jun 2015 12:38:25 +0000

Make it two parts:
Item 1: Supply Item / Cost 75 / VAT 5% - 3.75
Item 2: Service Item / Cost 25 / VAT 14% - 3.50

Facing New Problem regarding Taxation

null@example.com (Arjav.shah88) — Fri, 19 Jun 2015 05:20:48 +0000

As we are Govt. Contractors we need to invoice as follows

item :- ABC
Cost :- 100
Qty :- 1
So Bill Amount will be : 100.00
main prob is VAt 5% on 75% of Bill Amount (coz its Supply Portion) i.e. 3.75
Service Tax 14% on rest 25% of Bill Amount (coz its works portion) i.e 3.50

i need solutions please help me as soon as possible