This question has been flagged
1 Reply
4024 Views
Avatar
Arun Balasundaram

Hello,

I would like to know about the tax configuration for Indian accounting scenario. This is particularly applicable to Manufacturing Industry. Sample invoice values will be,

Product value: INR 1000.00
Excise Duty @ 12%: INR 120.00
Edu. Cess @ 2%: INR 2.4.00
Hr. Cess @ 1%: INR 1.2.00
----------------
1123.60
VAT @ 5%: INR 56.18 (Calculated on 1123.60 and not on product value 1000.00)
----------------
Invoice Total: INR 1179.78
----------------

Can someone help me out to configure tax structure for this type of taxation on invoices?

  • ARUN
Avatar
Discard
Avatar
Mantavya Gajjar (mga)
Best Answer

I hope this will serve your purpose. opensourceenterprise.wordpress.com/2013/06/17/indian-tax-structure-in-invoices-for-excisable-goods

Avatar
Discard
Rakesh

Is this solution applicable for Open ERP Version 6.0.4?

Mantavya Gajjar (mga)

Yes, this is applicable in all versions of OpenERP. yes there is small bug you should install http://www.openerp.com/apps/7.0/l10n_in_account_tax/ (www.openerp.com/apps/7.0/l10n_in_account_tax/) module to get the correct computation.

Arun Balasundaram
Author

The feature works as intended after installation "I10n_in_acccount_tax" module. I recommend this solution.