Hi Gaurangkumar Jani
This scenario is pertaining to Pakistan Tax.
I have design this solution as you mention above to accommodate this issue as per following.
I have created two tax code
a. VAT Code for input tax
b. VAT Code for output tax with negative sales tax value
II. I have assigned both codes to a tax group named as “Purchase”
III. That is working fine but there is only one problem for this general entry i.e. it nett of vendor balance as per following;
Particular Debit Credit
Expense/Assets Account 25,000.00
Sales tax/VAT Receivable 4,250.00
Sales tax/Vat Payable 850.00
Vendor 28,400.00
Total 29,250.00 29,250.00
But problem with this transaction is that system netting of vendor balance, but we want separate entry for sales payable as per following;
Particular Debit Credit
Expense/Assets Account 25,000.00
Sales tax/VAT Receivable 4,250.00
Vendor 29,250.00
Sales tax/Vat Payable 850.00
Vendor 850.00
Total 30,100.00 30,100.00
