While checking the Requirement of Deemed Supply Scenarios in Malaysia, according to Solution Design we can use the below configuration steps to achieve the requirement.
Here we are creating the Tax code Z7 for Deemed Supplies (e.g. transfer or disposal of business assets without considerations) 6%
We are creating the Tax code under The Tax procedure TAXMY
Then Once enter we are following below assignment
after entering the details we will update the Tax % as like RCM ( Reverse Charge Mechanism)
Once we update the Tax code % and information we will save this tax code.
Here we are ready to use the tax code for Deemed supply posting.
test Scenarios for FB60 with Z7 Tax code is as bellows;
Here I have picked two GL one is along with Tax code and another without tax code.
With Tax code GL contain Expense account and another GL for Expense out for Deemed Supplies JV scenarios.
with Stimulate the document you will looks that entries like below :
Here you can see the System obtain the results as per Deemed supplies scenarios which is explain by Govt. of Malaysia.
Where Vendor Account .. CR
Exp. Account … Dr
Vat Input A/c.. .. Dr
Deemed Supplies says that you need to self declare that Input tax = output tax then JV is as below;
Output Tax A/c …….. CR
Exp. Deemed Supply… Dr