7. What circumstanaces to use tax code SV and SVA for Credit Note?: Difference between revisions
From eStream Software
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# use tax code: '''SV''' (follow the invoice tax code, eg. SV)<br /> | # use tax code: '''SV''' (follow the invoice tax code, eg. SV)<br /> | ||
# system will '''auto reverse the unpaid service tax amount''' in the '''SST - Deferred Tax (SST-203)'''.<br /> | # system will '''auto reverse the unpaid service tax amount''' in the '''SST - Deferred Tax (SST-203)'''.<br /> | ||
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:2. '''Paid service tax'''<br /> | :2. '''Paid service tax'''<br /> | ||
# Cancellation of service after payment and service tax has been paid to RMCD.<br /> | # Cancellation of service after payment and service tax has been paid to RMCD.<br /> |
Revision as of 04:08, 31 January 2020
Issue:
- Service tax is based on payment basis.
Solution:
There will be 2 cases of service tax when credit note has taken in place:
- 1. Unpaid service tax
- Cancellation of service before any payment.
- use tax code: SV (follow the invoice tax code, eg. SV)
- system will auto reverse the unpaid service tax amount in the SST - Deferred Tax (SST-203).
- 2. Paid service tax
- Cancellation of service after payment and service tax has been paid to RMCD.
- seek for refund of service tax approved by RMCD.
- use tax code: SVA
- system will reduce the service tax payable to RMCD