15-04-2024 : Inventory updates
We have made some necessary changes in VAT and Excise configuration
Before these changes :
- To manage VAT you first need to add in supplier mapping and as per that mapping it's visible in the Purchase listing.
After these changes :
- User can add VAT in raw material master same as GST (manually + via Excel).
- Also, user can add excise duty in raw material master.
- Raw material master's added VAT is going to be visible in all the inventory modules (Purchase, sales, RFP, and return).
- In supplier mapping Now VAT is available for three modules : Purchase, Request for Purchase and Sales.
IMPORTANT : You can not configure VAT and GST both in the same bill.
Note :
- If you've mapped raw material in the supplier mapping then first preference is given to supplier mapping.
Known points :
- VAT percentage will Displayed in the IGST Form.
- Excise duty is not covered up in case of purchase return and Sales return form.
- VAT percentage will be applicable for both amounts (total amount + total excise Duty).
- In the case of a Dubai outlet, only tax percentage is applicable; no excise duty is there.
- Total Excise Duty will be calculated based on Quantity if price is > 0. Unit and its conversion will not be considered.
- VAT-related changes will not work in case of different tax types at transactional outlets/kitchens.
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