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Sap GST

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72 views24 pages

Sap GST

Uploaded by

linkme.recruiter
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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SAP FINANCIAL (FI) NOTES

SAP Simplified For Beginner

GST – Goods and Service Tax


Sijo Mathew

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GST – Goods and Service Tax
This is an Indirect Tax or consumption tax levied in India on the supply of goods
and services
Goods and Service are divided into Slabs for the collection of tax 0% 5% 12%
18% 28%
However petroleum products, alcoholic Drinks, Electricity and real estate are not
Taxed under GST and taxed separately by the individual state govt
GST is divided into
SGST – State
CGST – Central
IGST – Integrated
UTGST – Union territory
Example
12%- 6CGST/6SGST
12%-12IGST

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GST Configuration
Define Condition type - OBYZ
Financial Accounting (New)- Financial Accounting Global Settings (New)- Tax on Sales/Purchases- Basic
Settings- Check Calculation Procedure- Define Condition Types

SGST – State

CGST – Central

IGST – Integrated

UTGST – Union territory

Tax will be classified like input and output tax

Creation of condition type for Input Tax

3|Page
Creation of condition type for Output Tax

4|Page
Save

Create Accounts Key – OBCN


Same Path - Check and Change Settings for Tax Processing

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Check Calculation procedure OBYZ
Financial Accounting (New)- Financial Accounting Global Settings (New)- Tax on Sales/Purchases- Basic
Settings- Check Calculation Procedure- Define Procedures

New entries

SAVE
Select TAXINN and Click on Control Data

8|Page
New entries

SAVE

Assign country to calculation Procedure - OBBG

Same Path - Assign Country to Calculation Procedure

Define Tax codes for sales and Purchases – FTXP

Financial Accounting (New)- Financial Accounting Global Settings (New)- Tax on Sales/Purchases-
Calculation- Define Tax Codes for Sales and Purchases

Standard Structure Shown Below

Tax DESC Tax Desc


Code Code
G0 0% Input Tax - CG (CGST+SGST) GA 0% Output Tax - (CGST+SGST)
G1 5% Input Tax - CG (CGST+SGST) GB Output Tax 5% (CGST+SGST)
G2 12% Input Tax - CG (CGST+SGST) GC Output Tax 12% (CGST+SGST)
G3 18% Input Tax - CG (CGST+SGST) GD Output Tax 18% (CGST+SGST)
G4 28% Input Tax - CG (CGST+SGST) GE Output Tax 28% (CGST+SGST)
I0 0% Input Tax - CG (IGST) IA 0% Output Tax - (IGST)
I1 5% Input Tax - CG (IGST) IB Output Tax 5% (IGST)
I2 12% Input Tax - CG (IGST) IC Output Tax 12% (IGST)
I3 18% Input Tax - CG (IGST) ID Output Tax 18% (IGST)
I4 28% Input Tax - CG (IGST) IE Output Tax 28% (IGST)
U0 0% Input Tax - CG (CGST+UGST) UA 0% Output Tax - (CGST+UGST)
U1 5% Input Tax - CG (CGST+UGST) UB Output Tax 5% (CGST+UGST)
U2 12% Input Tax - CG (CGST+UGST) UC Output Tax 12% (CGST+UGST)
U3 18% Input Tax - CG (CGST+UGST) UD Output Tax 18% (CGST+UGST)
U4 28% Input Tax - CG (CGST+UGST) UE Output Tax 28% (CGST+UGST)

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SAVE

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Create GL Account FS00

OUTPUT GST 1* Liability

INPUT GST 2* Assets

Normally GL is maintained individually with every Tax sections In company’s

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SAVE

Assign Account keys to GL OB40

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Click on accounts

SAVE

SAVE

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Maintain Tax Codes for Excise Duties Using Condition Techniques - SM30

SAVE

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FS00

SAVE

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Vendor Invoice FB60

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FBL1N

FBL3n

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FB70 Customer invoice

FBL5N

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FBL3n

Completed

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