I was trying to find out if we can edit the service tax for India which is by set to default @ 12.36 percent (which is correct). In case the tax rate changes from 12.36 % to 14 %, how can we change it instantly as I have to raise Tax Invoice on a daily basis.
Service tax 12.36% is in-built tax code. If the rate changes, we will probably add new in-built tax code to reflect the change before it will be effective. (It’s not like the government announces new rates and makes them effective on the very same day, that would be bizarre)
But in any case, you can always create custom tax codes with any rate anytime you need without relying on us.
Can you share the process of creating custom code if possible.
When you go to Settings, then Tax codes, click New Tax Code button and you will a link to create custom tax code rather than selecting in-built one.
Thank you Lubos for all your help .
Highly appreciated .