Hi
Please provide Tax configuration for India for below scenario.
Vendor invoice posting with service tax 14% & Swatch bharath 0.5%. from this tax 25% paid by vendor & 75% paid by us (here we are service receiver). So the accounting entry is
Professional Service Dr 1000
Service tax 14% (25%) Dr 35
Service tax 14% (75%) Dr 105
Swatch Bharath 0.5% (25%) Dr 1.3
Swatch Bharath 0.5% (75%) Dr 3.8
To Vendor 1036.2 (Balancing figure)
To Service Tax Payable 14% (75%) 105
To Swatch bharath 0.5% (75%) 3.8
How can I define condition type, account keys, Calculation procedure & tax code for post this transaction. Kindly suggest me
Thanks in advance