Hi,
In case we have document level allowance and we are grouping it based on tax category code, since this is a negative amount, how do we show the amount? negative or positive? - as this will reduce the liability
Secondly in case we have document level allowance and charge, for the purpose of tax calculation should we use the net amount of “Charges - Allowance” or we need to show it separately?
@vivek.kedia
Document level allowance must be provided as absolute amount (without negative symbol). Formula will take care of substracting the allowace amount from taxable amount.
allowances and charges should be shown separately. Charge indicator will be “false” for allowances and “true” for charges.
Giving an example
cac:AllowanceCharge
cbc:ChargeIndicatorfalse</cbc:ChargeIndicator>
cbc:AllowanceChargeReasonCode95</cbc:AllowanceChargeReasonCode>
cbc:AllowanceChargeReasonDiscount</cbc:AllowanceChargeReason>
<cbc:Amount currencyID=“SAR”>100</cbc:Amount>
cac:TaxCategory
cbc:IDS</cbc:ID>
cbc:Percent15</cbc:Percent>
cac:TaxScheme
cbc:IDVAT</cbc:ID>
</cac:TaxScheme>
</cac:TaxCategory>
</cac:AllowanceCharge>
cac:AllowanceCharge
cbc:ChargeIndicatortrue</cbc:ChargeIndicator>
cbc:AllowanceChargeReasonCodeCG</cbc:AllowanceChargeReasonCode>
cbc:AllowanceChargeReasonCleaning</cbc:AllowanceChargeReason>
<cbc:Amount currencyID=“SAR”>200</cbc:Amount>
cac:TaxCategory
cbc:IDS</cbc:ID>
cbc:Percent15</cbc:Percent>
cac:TaxScheme
cbc:IDVAT</cbc:ID>
</cac:TaxScheme>
</cac:TaxCategory>
</cac:AllowanceCharge>
Is the the expected calculation???
cac:TaxTotal This is the vat amount in foreign currency
<cbc:TaxAmount currencyID=“SAR”>15.00</cbc:TaxAmount>
cac:TaxSubtotal
<cbc:TaxableAmount currencyID=“SAR”>100.00</cbc:TaxableAmount>
<cbc:TaxAmount currencyID=“SAR”>15.00</cbc:TaxAmount>
cac:TaxCategory
cbc:IDS</cbc:ID>
cbc:Percent15</cbc:Percent>
cac:TaxScheme
cbc:IDVAT</cbc:ID>
</cac:TaxScheme>
</cac:TaxCategory>
</cac:TaxSubtotal>
Will the formula take care of the tax calculation for the final amount?
If the above is not correct, please mention the correct structure
Yes formula will take care of the tax calculation for the final amount and above structure is fine.