How are input and output taxes taken care of in sap?
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Answer Posted / Amit Rastogi
In SAP FI-CO, input and output taxes are handled through the VAT (Value Added Tax) module. Input tax refers to the VAT paid on business purchases, which can be recovered, while output tax is charged on sales. The system automatically calculates the VAT based on the tax rate configured for each account, and it can also handle complex tax schemes like reverse charge and exempt supply.
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