DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Tax payable


#1

Tax payable not showing actual. For example. I have paid Rs. 4000 (4%) as purchase tax against one purchase . At the time of sale I collected Rs. 14500 (14.5%) as Sale tax for the same items. Actually, later I should remit Rs.14500 in sale tax department but in Manager ’ Tax payable’ shows as Rs.10500


#2

Why 10,500 is incorrect? You collected tax 14,500 from customer. You paid tax 4,000 to supplier.

14,500 - 4,000 = 10,500

You need to give more context, based on what you said I see no issue.


#3

You are right but actually I should pay Rs. 14500 before sale tax department. When I am paying Rs. 14500 to Sale tax Dept, Manager will show overpayment of Rs. 4000


#4

Why do you have to pay Rs. 14,500? Why don’t they give you credit for tax which you paid to suppliers?