When I add an Item I will need to Add MRP with Abatement
When I add an Item I will need to Add MRP with Abatementfor Example I add an Item of Rs.100 (My billing price is Rs.25 and MRP is Rs.100) I make Excise Payment for Rs.30 as Rs.70 is Abatement...I need help in adding the same for each item...All Items don't come under excise...Those Items that are Excisable will have abatement...
Hi Rushabh,
| Description of goods | Assessable Value | Rate of BED | BED Amount | Rate of Ed Cess | Ed Cess Amount | Rate of Sec Ed Cess | Sec Ed Cess Amount |
| 83P347-001-PL-FS (MRP:325.00/PKS Abatement:55%) | 1,46,250.00 | 10% | 14625 | 2% | 292.5 | 1% | 146.25 |
Hi,From what I understand is that you sell an item for Rs 25 and you pay tax on Rs 30 (?). There could be many ways to map this scenario:1. Keep the item price as Rs 30 and in the Taxes table, add a discount of -5- your tax will be calculated correctly and invoice amount will be correct (30 + tax - 5)- your income will be Rs 30 and expense (discount) will be 5 so your revenue will also come correct 30 - 5 (but your unadjusted sales figure will be higher if you do not deduct discount)2. Keep the item price as 30 and increase the tax rate to cover the additional amount. Say your tax is 10% and you discount by 12% then keep your tax as 11.2% to cover for the additional amount taxable. You can still keep your tax as Excise 103. Calculate your tax manually per invoice and use the "Actual" setting for the tax table.I would go with Plan 1. but please check with your accountant.Hope I understood this correctly.best,Rushabh-----------------------------------------------------
ERPNext - Business Operating System
W: https://erpnext.com
T: @rushabh_mehtaOn 19-Apr-2012, at 6:16 PM, J Prasanna Kumar wrote:When I add an Item I will need to Add MRP with Abatementfor Example I add an Item of Rs.100 (My billing price is Rs.25 and MRP is Rs.100) I make Excise Payment for Rs.30 as Rs.70 is Abatement...I need help in adding the same for each item...All Items don't come under excise...Those Items that are Excisable will have abatement...
Hi Prasanna,
From what you have listed down I understand the following:
Please confirm if the above case is OK.
Also let me know if the abatement amount is constant or is the abatement changing
Would giving a line item in other charges for abatement resolve your issue, since from what I understand that you are manufacturing different products and all have different abatement rates and therefore you would want that to be in the item master.
If the above case of different abatement is true, the you can do the following:
If you need any further help , do post.
Hi Rushabh,Thanks for the reply. But this answer does not solve the question.When I make an Invoice it will contain Duties and Taxes…1. When I add an Item I will require to add VAT for that Item as well as Basic duty, Edu Cess, Sed. Edu Cess…When I add MRP of the Item as Rs.100 in item master and Calculate Abbetment as 70% it should automatically calculate BD, EC and SEC in InvoiceBelow is example as to how it is done for 1,000 Pks of Socks with 55% Abatement:
Description of goods Assessable Value Rate of BED BED Amount Rate of Ed Cess Ed Cess Amount Rate of Sec Ed Cess Sec Ed Cess Amount 83P347-001-PL-FS (MRP:325.00/PKS Abatement:55%) 1,46,250.00 10% 14625 2% 292.5 1% 146.25 This is something I need to Show in the Invoice...If this can be calculated and displayed in the Invoice that will do...Thanks,Prasanna
On Friday, 20 April 2012 09:28:04 UTC+5:30, Rushabh Mehta wrote:Hi,From what I understand is that you sell an item for Rs 25 and you pay tax on Rs 30 (?). There could be many ways to map this scenario:1. Keep the item price as Rs 30 and in the Taxes table, add a discount of -5- your tax will be calculated correctly and invoice amount will be correct (30 + tax - 5)- your income will be Rs 30 and expense (discount) will be 5 so your revenue will also come correct 30 - 5 (but your unadjusted sales figure will be higher if you do not deduct discount)2. Keep the item price as 30 and increase the tax rate to cover the additional amount. Say your tax is 10% and you discount by 12% then keep your tax as 11.2% to cover for the additional amount taxable. You can still keep your tax as Excise 103. Calculate your tax manually per invoice and use the "Actual" setting for the tax table.I would go with Plan 1. but please check with your accountant.Hope I understood this correctly.best,Rushabh-----------------------------------------------------
ERPNext - Business Operating System
W: https://erpnext.com
T: @rushabh_mehtaOn 19-Apr-2012, at 6:16 PM, J Prasanna Kumar wrote:When I add an Item I will need to Add MRP with Abatementfor Example I add an Item of Rs.100 (My billing price is Rs.25 and MRP is Rs.100) I make Excise Payment for Rs.30 as Rs.70 is Abatement...I need help in adding the same for each item...All Items don't come under excise...Those Items that are Excisable will have abatement...
Basically I think Mr Prasanna is looking for this:
| Item | Price | Abatement | Qty | Total | Line No | Current System | |
| Socks | ₹ 325.00 | 55% | 1000 | ₹ 3,25,000.00 | 1 | Possible | |
| Net Total | ₹ 3,25,000.00 | 2 | Available | ||||
| Taxable Amount After Abatement | 45% | ₹ 1,46,250.00 | 3 | =45% of 2 | Not Possible | ||
| BED | 10% | ₹ 14,625.00 | 4 | =10% of 3 | Possible | ||
| Ecess | 2% | ₹ 292.50 | 5 | =2% of 4 | Possible | ||
| SAH | 1% | ₹ 146.25 | 6 | =1% of 4 | Possible | ||
| Sub Total | ₹ 3,40,063.75 | 7 | =2+4+5+6 | Possible |
Hi Prasanna,
From what you have listed down I understand the following:
- Your list price is 325 per sock
- You charge your customer 325 + ED ( which is on 45% of the sale value since abatement in this case is 55%)
- You customer pays to you 325*1000 + (325000*0.45*1.103) = 325000 + ED (as per abatement)
Please confirm if the above case is OK.
Also let me know if the abatement amount is constant or is the abatement changing
Would giving a line item in other charges for abatement resolve your issue, since from what I understand that you are manufacturing different products and all have different abatement rates and therefore you would want that to be in the item master.
If the above case of different abatement is true, the you can do the following:
- Create a custom field in Item Master ====> Name it as Excise Abatement and give this a %age
- Now create a custom field in Sales Order Details and Delivery Note Details and in RV Details by the name of excise abatement.
- Now the thing is when you enter the item code for sock you would want that the SO should show the abatement as well.
- For this you would need to write a custom code in Sales Order Custom Script
- Search for forums to get the code since I can't remember the code but it is there in the forums
- The code is something like this:
- cur_frm.add_fetch('customer','state_tax_type','charge');
cur_frm.add_fetch('customer','tin_no','tin_no');
cur_frm.add_fetch('customer','excise_registration_number','excise_number');
cur_frm.add_fetch('item_code','cetsh_number','cetsh_number');- Now I have pasted my code in the Sales Order the above code does the following:
- Line 1 Code would fetch the Taxes of the customer to the sales order into the charge master.
- Line 2 Code would fetch the TIN No of the customer to the sales order
- Line 4 Code would fetch the CETSH No of the item into the sales order detail
- The code is like this: cur_frm.add_fetch it is basically fetching the details mentioned later to the current form.
- First part is the Doctype name in case of item it is item_code
- Second Part is the name of the field that you need to fetch from the source doc
- Third part is the name of the field in the TARGET document.
If you need any further help , do post.
On Friday, April 20, 2012 11:46:39 AM UTC+5:30, J Prasanna Kumar wrote:Hi Rushabh,Thanks for the reply. But this answer does not solve the question.When I make an Invoice it will contain Duties and Taxes...1. When I add an Item I will require to add VAT for that Item as well as Basic duty, Edu Cess, Sed. Edu Cess...When I add MRP of the Item as Rs.100 in item master and Calculate Abbetment as 70% it should automatically calculate BD, EC and SEC in InvoiceBelow is example as to how it is done for 1,000 Pks of Socks with 55% Abatement:
Description of goods Assessable Value Rate of BED BED Amount Rate of Ed Cess Ed Cess Amount Rate of Sec Ed Cess Sec Ed Cess Amount 83P347-001-PL-FS (MRP:325.00/PKS Abatement:55%) 1,46,250.00 10% 14625 2% 292.5 1% 146.25 This is something I need to Show in the Invoice...If this can be calculated and displayed in the Invoice that will do...Thanks,Prasanna
On Friday, 20 April 2012 09:28:04 UTC+5:30, Rushabh Mehta wrote:Hi,From what I understand is that you sell an item for Rs 25 and you pay tax on Rs 30 (?). There could be many ways to map this scenario:1. Keep the item price as Rs 30 and in the Taxes table, add a discount of -5- your tax will be calculated correctly and invoice amount will be correct (30 + tax - 5)- your income will be Rs 30 and expense (discount) will be 5 so your revenue will also come correct 30 - 5 (but your unadjusted sales figure will be higher if you do not deduct discount)2. Keep the item price as 30 and increase the tax rate to cover the additional amount. Say your tax is 10% and you discount by 12% then keep your tax as 11.2% to cover for the additional amount taxable. You can still keep your tax as Excise 103. Calculate your tax manually per invoice and use the "Actual" setting for the tax table.I would go with Plan 1. but please check with your accountant.Hope I understood this correctly.best,Rushabh-----------------------------------------------------
ERPNext - Business Operating System
W: https://erpnext.com
T: @rushabh_mehtaOn 19-Apr-2012, at 6:16 PM, J Prasanna Kumar wrote:When I add an Item I will need to Add MRP with Abatementfor Example I add an Item of Rs.100 (My billing price is Rs.25 and MRP is Rs.100) I make Excise Payment for Rs.30 as Rs.70 is Abatement...I need help in adding the same for each item...All Items don't come under excise...Those Items that are Excisable will have abatement...
Hi Aditya,
Basically I think Mr Prasanna is looking for this:
Item Price Abatement Qty Total Line No Current System Socks ₹ 325.00 55% 1000 ₹ 3,25,000.00 1 Possible Net Total ₹ 3,25,000.00 2 Available Taxable Amount After Abatement 45% ₹ 1,46,250.00 3 =45% of 2 Not Possible BED 10% ₹ 14,625.00 4 =10% of 3 Possible Ecess 2% ₹ 292.50 5 =2% of 4 Possible SAH 1% ₹ 146.25 6 =1% of 4 Possible Sub Total ₹ 3,40,063.75 7 =2+4+5+6 Possible
The problem he is facing is how to do what is happening in line no.3
On Friday, April 20, 2012 12:09:21 PM UTC+5:30, Aditya Duggal wrote:Hi Prasanna,
From what you have listed down I understand the following:
- Your list price is 325 per sock
- You charge your customer 325 + ED ( which is on 45% of the sale value since abatement in this case is 55%)
- You customer pays to you 325*1000 + (325000*0.45*1.103) = 325000 + ED (as per abatement)
Please confirm if the above case is OK.
Also let me know if the abatement amount is constant or is the abatement changing
Would giving a line item in other charges for abatement resolve your issue, since from what I understand that you are manufacturing different products and all have different abatement rates and therefore you would want that to be in the item master.
If the above case of different abatement is true, the you can do the following:
- Create a custom field in Item Master ====> Name it as Excise Abatement and give this a %age
- Now create a custom field in Sales Order Details and Delivery Note Details and in RV Details by the name of excise abatement.
- Now the thing is when you enter the item code for sock you would want that the SO should show the abatement as well.
- For this you would need to write a custom code in Sales Order Custom Script
- Search for forums to get the code since I can't remember the code but it is there in the forums
- The code is something like this:
- cur_frm.add_fetch('customer','state_tax_type','charge');
cur_frm.add_fetch('customer','tin_no','tin_no');
cur_frm.add_fetch('customer','excise_registration_number','excise_number');
cur_frm.add_fetch('item_code','cetsh_number','cetsh_number');- Now I have pasted my code in the Sales Order the above code does the following:
- Line 1 Code would fetch the Taxes of the customer to the sales order into the charge master.
- Line 2 Code would fetch the TIN No of the customer to the sales order
- Line 4 Code would fetch the CETSH No of the item into the sales order detail
- The code is like this: cur_frm.add_fetch it is basically fetching the details mentioned later to the current form.
- First part is the Doctype name in case of item it is item_code
- Second Part is the name of the field that you need to fetch from the source doc
- Third part is the name of the field in the TARGET document.
If you need any further help , do post.
On Friday, April 20, 2012 11:46:39 AM UTC+5:30, J Prasanna Kumar wrote:Hi Rushabh,Thanks for the reply. But this answer does not solve the question.When I make an Invoice it will contain Duties and Taxes...1. When I add an Item I will require to add VAT for that Item as well as Basic duty, Edu Cess, Sed. Edu Cess...When I add MRP of the Item as Rs.100 in item master and Calculate Abbetment as 70% it should automatically calculate BD, EC and SEC in InvoiceBelow is example as to how it is done for 1,000 Pks of Socks with 55% Abatement:
Description of goods Assessable Value Rate of BED BED Amount Rate of Ed Cess Ed Cess Amount Rate of Sec Ed Cess Sec Ed Cess Amount 83P347-001-PL-FS (MRP:325.00/PKS Abatement:55%) 1,46,250.00 10% 14625 2% 292.5 1% 146.25 This is something I need to Show in the Invoice...If this can be calculated and displayed in the Invoice that will do...Thanks,Prasanna
On Friday, 20 April 2012 09:28:04 UTC+5:30, Rushabh Mehta wrote:Hi,From what I understand is that you sell an item for Rs 25 and you pay tax on Rs 30 (?). There could be many ways to map this scenario:1. Keep the item price as Rs 30 and in the Taxes table, add a discount of -5- your tax will be calculated correctly and invoice amount will be correct (30 + tax - 5)- your income will be Rs 30 and expense (discount) will be 5 so your revenue will also come correct 30 - 5 (but your unadjusted sales figure will be higher if you do not deduct discount)2. Keep the item price as 30 and increase the tax rate to cover the additional amount. Say your tax is 10% and you discount by 12% then keep your tax as 11.2% to cover for the additional amount taxable. You can still keep your tax as Excise 103. Calculate your tax manually per invoice and use the "Actual" setting for the tax table.I would go with Plan 1. but please check with your accountant.Hope I understood this correctly.best,Rushabh-----------------------------------------------------
ERPNext - Business Operating System
W: https://erpnext.com
T: @rushabh_mehtaOn 19-Apr-2012, at 6:16 PM, J Prasanna Kumar wrote:When I add an Item I will need to Add MRP with Abatementfor Example I add an Item of Rs.100 (My billing price is Rs.25 and MRP is Rs.100) I make Excise Payment for Rs.30 as Rs.70 is Abatement...I need help in adding the same for each item...All Items don't come under excise...Those Items that are Excisable will have abatement...
Hi Aditya,I charge my customers Rs.115.00. The MRP is Different from My billing price. Abatement is on MRP. So the Invoice should show billing price and MRP.
Thanks,
Prasanna
On Friday, 20 April 2012 14:29:53 UTC+5:30, Aditya Duggal wrote:Basically I think Mr Prasanna is looking for this:
Item Price Abatement Qty Total Line No Current System Socks ₹ 325.00 55% 1000 ₹ 3,25,000.00 1 Possible Net Total ₹ 3,25,000.00 2 Available Taxable Amount After Abatement 45% ₹ 1,46,250.00 3 =45% of 2 Not Possible BED 10% ₹ 14,625.00 4 =10% of 3 Possible Ecess 2% ₹ 292.50 5 =2% of 4 Possible SAH 1% ₹ 146.25 6 =1% of 4 Possible Sub Total ₹ 3,40,063.75 7 =2+4+5+6 Possible
The problem he is facing is how to do what is happening in line no.3
On Friday, April 20, 2012 12:09:21 PM UTC+5:30, Aditya Duggal wrote:Hi Prasanna,
From what you have listed down I understand the following:
- Your list price is 325 per sock
- You charge your customer 325 + ED ( which is on 45% of the sale value since abatement in this case is 55%)
- You customer pays to you 325*1000 + (325000*0.45*1.103) = 325000 + ED (as per abatement)
Please confirm if the above case is OK.
Also let me know if the abatement amount is constant or is the abatement changing
Would giving a line item in other charges for abatement resolve your issue, since from what I understand that you are manufacturing different products and all have different abatement rates and therefore you would want that to be in the item master.
If the above case of different abatement is true, the you can do the following:
- Create a custom field in Item Master ====> Name it as Excise Abatement and give this a %age
- Now create a custom field in Sales Order Details and Delivery Note Details and in RV Details by the name of excise abatement.
- Now the thing is when you enter the item code for sock you would want that the SO should show the abatement as well.
- For this you would need to write a custom code in Sales Order Custom Script
- Search for forums to get the code since I can't remember the code but it is there in the forums
- The code is something like this:
- cur_frm.add_fetch('customer','state_tax_type','charge');
cur_frm.add_fetch('customer','tin_no','tin_no');
cur_frm.add_fetch('customer','excise_registration_number','excise_number');
cur_frm.add_fetch('item_code','cetsh_number','cetsh_number');- Now I have pasted my code in the Sales Order the above code does the following:
- Line 1 Code would fetch the Taxes of the customer to the sales order into the charge master.
- Line 2 Code would fetch the TIN No of the customer to the sales order
- Line 4 Code would fetch the CETSH No of the item into the sales order detail
- The code is like this: cur_frm.add_fetch it is basically fetching the details mentioned later to the current form.
- First part is the Doctype name in case of item it is item_code
- Second Part is the name of the field that you need to fetch from the source doc
- Third part is the name of the field in the TARGET document.
If you need any further help , do post.
On Friday, April 20, 2012 11:46:39 AM UTC+5:30, J Prasanna Kumar wrote:Hi Rushabh,Thanks for the reply. But this answer does not solve the question.When I make an Invoice it will contain Duties and Taxes...1. When I add an Item I will require to add VAT for that Item as well as Basic duty, Edu Cess, Sed. Edu Cess...When I add MRP of the Item as Rs.100 in item master and Calculate Abbetment as 70% it should automatically calculate BD, EC and SEC in InvoiceBelow is example as to how it is done for 1,000 Pks of Socks with 55% Abatement:
Description of goods Assessable Value Rate of BED BED Amount Rate of Ed Cess Ed Cess Amount Rate of Sec Ed Cess Sec Ed Cess Amount 83P347-001-PL-FS (MRP:325.00/PKS Abatement:55%) 1,46,250.00 10% 14625 2% 292.5 1% 146.25 This is something I need to Show in the Invoice...If this can be calculated and displayed in the Invoice that will do...Thanks,Prasanna
On Friday, 20 April 2012 09:28:04 UTC+5:30, Rushabh Mehta wrote:Hi,From what I understand is that you sell an item for Rs 25 and you pay tax on Rs 30 (?). There could be many ways to map this scenario:1. Keep the item price as Rs 30 and in the Taxes table, add a discount of -5- your tax will be calculated correctly and invoice amount will be correct (30 + tax - 5)- your income will be Rs 30 and expense (discount) will be 5 so your revenue will also come correct 30 - 5 (but your unadjusted sales figure will be higher if you do not deduct discount)2. Keep the item price as 30 and increase the tax rate to cover the additional amount. Say your tax is 10% and you discount by 12% then keep your tax as 11.2% to cover for the additional amount taxable. You can still keep your tax as Excise 103. Calculate your tax manually per invoice and use the "Actual" setting for the tax table.I would go with Plan 1. but please check with your accountant.Hope I understood this correctly.best,Rushabh-----------------------------------------------------
ERPNext - Business Operating System
W: https://erpnext.com
T: @rushabh_mehtaOn 19-Apr-2012, at 6:16 PM, J Prasanna Kumar wrote:When I add an Item I will need to Add MRP with Abatementfor Example I add an Item of Rs.100 (My billing price is Rs.25 and MRP is Rs.100) I make Excise Payment for Rs.30 as Rs.70 is Abatement...I need help in adding the same for each item...All Items don't come under excise...Those Items that are Excisable will have abatement...