7. What circumstanaces to use tax code SV and SVA for Credit Note?: Difference between revisions
From eStream Software
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<big>'''Issue:'''</big> | <big>'''Issue:'''</big> | ||
:Service tax is based on payment basis. | :Service tax is based on payment basis. | ||
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<big>'''Solution:'''</big> | <big>'''Solution:'''</big> |
Revision as of 04:14, 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).
- Cancellation of service before any payment.
- 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
- Cancellation of service after payment and service tax has been paid to RMCD.