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1 question plz it is a bit urgent.
When we are posting a transaction with service tax(say
12.5%)ok,
Now say the total amount is rs.100,000 now my question is
Here we have given 12.5% tax.Do we have to calculate
Seperatelly the tax amount(100,000*12.5%) or it will
Calculate on it's own.
If so what is the procedure to make it calculate it
Automatically.
Plz reply soon
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Answer Posted / balaram
system calculated it automatically and post the accounting entry like serive tax Dr
To Service tax Payable Cr Here Service tax is a automatic posting entry like vat payble.
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