Scribd Logo
Upload

Welcome to Scribd!

  • 14 views

    Tax Procedure

    Uploaded by

    Sahil Jadhav
    This document outlines the tax procedure configuration in SAP MM for GST taxation in India. It describes the key tax types and accounts needed, including input tax, output tax, and tax paid/received accounts. It then lists the main configuration steps to set up taxes in SAP MM: 1) Define tax condition types, 2) Create GL accounts for input/output tax, 3) Create transaction event keys for taxes, 4) Assign the keys to GL accounts, 5) Create tax procedures, 6) Assign procedures to countries, and 7) Create tax codes. The goal is to properly configure the system to handle input tax credits, output tax calculations and payments, and reporting for the main GST tax types in India.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content

    You might also like

    Tax Procedure

    Uploaded by

    Sahil Jadhav
    14 views9 pages
    This document outlines the tax procedure configuration in SAP MM for GST taxation in India. It describes the key tax types and accounts needed, including input tax, output tax, and tax paid/received accounts. It then lists the main configuration steps to set up taxes in SAP MM: 1) Define tax condition types, 2) Create GL accounts for input/output tax, 3) Create transaction event keys for taxes, 4) Assign the keys to GL accounts, 5) Create tax procedures, 6) Assign procedures to countries, and 7) Create tax codes. The goal is to properly configure the system to handle input tax credits, output tax calculations and payments, and reporting for the main GST tax types in India.

    Original Description:

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This document outlines the tax procedure configuration in SAP MM for GST taxation in India. It describes the key tax types and accounts needed, including input tax, output tax, and tax paid/received accounts. It then lists the main configuration steps to set up taxes in SAP MM: 1) Define tax condition types, 2) Create GL accounts for input/output tax, 3) Create transaction event keys for taxes, 4) Assign the keys to GL accounts, 5) Create tax procedures, 6) Assign procedures to countries, and 7) Create tax codes. The goal is to properly configure the system to handle input tax credits, output tax calculations and payments, and reporting for the main GST tax types in India.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    14 views9 pages

    Tax Procedure

    Uploaded by

    Sahil Jadhav
    This document outlines the tax procedure configuration in SAP MM for GST taxation in India. It describes the key tax types and accounts needed, including input tax, output tax, and tax paid/received accounts. It then lists the main configuration steps to set up taxes in SAP MM: 1) Define tax condition types, 2) Create GL accounts for input/output tax, 3) Create transaction event keys for taxes, 4) Assign the keys to GL accounts, 5) Create tax procedures, 6) Assign procedures to countries, and 7) Create tax codes. The goal is to properly configure the system to handle input tax credits, output tax calculations and payments, and reporting for the main GST tax types in India.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 9

    TAX PROCEDURE IN SAP MM

    Tax procedure

    Tax Type

    Purchase Sales

    Output
    Input Tax
    Tax
    TAX PROCEDURE IN SAP MM NIRANJANJADHAV50@GMAIL.COM
    TAX PROCEDURE IN SAP MM

    • GST: Goods and Services Tax.


    • CGST: Central Goods and Services Tax.
    • SGST: State Goods and Services Tax.
    • IGST: Integrated Goods and Services Tax.
    • Tax Paid to Gov. = Output Tax – Input Tax
    • Intra State GST: Both the vendor and company are in same state.
    • Inter state GST: Both the vendor and company are in different state or vice versa.

    Configuration Steps of Tax Procedure.


    1.Define Condition Type of Tax (OBQ1)
    MWVS – Standard Input Tax.
    MWAS- Standard output Tax.
    • Copy Standard Tax and Create six conditions for input and output as shown in
    below table.:

    TAX PROCEDURE IN SAP MM NIRANJANJADHAV50@GMAIL.COM


    TAX PROCEDURE IN SAP MM

    TAX PROCEDURE IN SAP MM NIRANJANJADHAV50@GMAIL.COM


    TAX PROCEDURE IN SAP MM

    2. Creation of GL Account for GST (FS00)


    Input GL Account Output GL Account
    1001 2001
    1002 2002
    1003 2003

    Note: In Control Data Tax Category for input tax is always -ve and for output tax is +ve.

    TAX PROCEDURE IN SAP MM NIRANJANJADHAV50@GMAIL.COM


    TAX PROCEDURE IN SAP MM

    3.Creation of Transaction Event Key for Taxes


    (OBCN)
    VST: Standard Input Transaction Event key.
    MWS: Standard Output Transaction Event Key.
    • Copy Standard Transaction Event Key Tax and Create six conditions for input and
    output as shown in below table.:

    Input Transaction Event key Output Transaction Event Key


    (VST) (MWS)
    CSI CGO
    SGI SGO
    IGI IGO

    • Change Process Name and Description.


    • Select Tax Type Accordingly Input or Output

    TAX PROCEDURE IN SAP MM NIRANJANJADHAV50@GMAIL.COM


    TAX PROCEDURE IN SAP MM

    4.Assigment of Transaction Event Key with GL


    Account (OB40)

    Input Transaction Event key Output Transaction Event Key


    (VST) (MWS)
    CSI-1001 CGO-2001
    SGI-1002 SGO-2002
    IGI-1003 IGO-2003

    • Double Click on Created Transaction Key.


    • Put GL Account Number Accordingly.

    TAX PROCEDURE IN SAP MM NIRANJANJADHAV50@GMAIL.COM


    TAX PROCEDURE IN SAP MM

    5.Create Tax Procedure (OBQ3)


    • New Entry

    • Save
    • Back – Position -Select GSTI – Click on Control

    TAX PROCEDURE IN SAP MM NIRANJANJADHAV50@GMAIL.COM


    TAX PROCEDURE IN SAP MM

    6.Assign Tax procedure To Country (OBBG)


    • Position- Country [ IN ]

    7.Creation of Tax Code (FTXP)

    TAX PROCEDURE IN SAP MM NIRANJANJADHAV50@GMAIL.COM


    TAX PROCEDURE IN SAP MM

    • Put Tax Code I1


    • Select Tax type:
    V-Input Tax
    A-Output Tax
    • For Eg.: GST 5% it is divided into 2.50% CGST and 2.50% SGST.

    TAX PROCEDURE IN SAP MM NIRANJANJADHAV50@GMAIL.COM

    You might also like