TCS Tax type is missing under Tax Details for Tax code: 531 and Tax Country: IN- India when creating manual customer invoice request.
Reproducing the Issue
- Go to the Customer Invoicing work center.
- Go to the New Manual Invoice view under common Task.
- Fill all the required data e.g. Account, Product.
- Go to the Items tab and select Taxes sub tab.
- Click on Tax Code dropdown and select Tax Code: 531.
You can see VAT and Additional VAT Tax Types are fetching under Tax details, but TCS Tax Type is missing.
Product Tax classification for TCS has not been maintained under Taxes tab in product master data.
Kindly maintain the below mentioned steps to configure the TCS Tax type:
- Go to the Product Data work center.
- Go to the Materials View.
- Search and Open the material XYZ.(XYZ represents the ID of material)
- Go to the Taxes Tab.
- Select on Add Row.
- Maintain the require fields i.e.
-Country : IN
-Tax Type: 33-TCS / 34 /35 and 36
-Tax Rate Type: Standard
- Save and Close
Now, when you createing manual customer invoice with same Product XYZ, the TCS will be available under Tax Details for Tax Code 531.
Note: Tax Collected at Source (TCS) is income tax collected by seller in India from payer on sale of certain items. It is provided in section 206C of Income Tax Act 1961.
KBA , AP-BP-BPT , Business Partner Template , How To