Indian tax structure in invoices for excisable goods
Product value: INR 1000.00
Excise Duty @ 12%: INR 120.00
Edu. Cess @ 2%: INR 2.4.00
Hr. Cess @ 1%: INR 1.2.00
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Total after 12.36% Excise 1123.60
VAT @ 5%: INR 56.18 (Calculated on 1123.60 and not on product value 1000.00)
—————-
Invoice Total: INR 1179.78
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Credit Note in OpenERP
Using customer invoice and customer refund invoice we can easily manage the credit notes in OpenERP as like the Debit Note in OpenERP.
Here in this video i would also like to show you how OpenERP is managing the company and contacts, invoice can be raised to the contact person in company but payment comes from the company. It is a natural scenario and how easily its being managed by OpenERP.
Related articles
- Credit Note in OpenERP (opensourceenterprise.wordpress.com)
