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Author's profile photo Mukthar Ali Ahamed N

KKC configuration in withholding tax

In continuation to my last document Krishi kalyan Cess configuration ,I want to share configuration of KKC in withholding tax for partial service tax under reverse charge mechanism.

1. Create a w.h.tax type at invoice posting

2. Create a w.h.tax type at payment posting

3. Create w.h.tax  code for the above 2 keys.

4. Define formulas for calculating w.h.tax for the above tax types.

5. Assign the tax type to co.code

6. Then after create the below GL accounts in FS00

  

    1. KKC Payable

    2. KKC Receivable

    3. KKC expense (If the company is not eligible for CENVAT credit)

7. Assign the payable GL account for the w.h.tax type & tax code in OBWW

8.Assign the receivable or expense GL account for the w.h.tax type & code in OBWO

9. Assign the above created codes in the vendor master

 

10. After done the above configuration, post the invoice.

Please share your valuable feed back on it.

Thanks & Regards,

Mukthar Ali N

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      11 Comments
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      Author's profile photo Former Member
      Former Member

      Mukthar Thanks for your sharing...

      Thank you again

      Author's profile photo Former Member
      Former Member

      Explained article.  Thanks Sir !!

      Author's profile photo Mukthar Ali Ahamed N
      Mukthar Ali Ahamed N
      Blog Post Author

      Thanks..

      Author's profile photo Former Member
      Former Member

      Thanks Sir

      Author's profile photo Sattaiah Gundu
      Sattaiah Gundu

      🙂 Thank you

      Author's profile photo Former Member
      Former Member

      Nice explanation

      Author's profile photo Mukthar Ali Ahamed N
      Mukthar Ali Ahamed N
      Blog Post Author

      Thank you..

      Author's profile photo Hidyath pasha
      Hidyath pasha

      HI Mukthar Thanks for sharing knowledge nice documentation 🙂

      Author's profile photo Mukthar Ali Ahamed N
      Mukthar Ali Ahamed N
      Blog Post Author

      Thanks Hidyath..

      Author's profile photo Former Member
      Former Member

      Good Document Muktar,

      REgards,

      Ravi

      Author's profile photo Mukthar Ali Ahamed N
      Mukthar Ali Ahamed N
      Blog Post Author

      Thanks..