Tax Group

All the taxes that are applicable to the business can be created as a Tax Group. This makes it easy to only choose the Tax Group in the transactions when all the tax calculations will be automatically applied.

How to Create a Tax Group

• Go to menu SETTINGS -> TAX GROUP
• Click on the CREATE button to open a new form
• Add new TAX GROUP name, and choose the TAX TYPE depending on where its used
• Set values in the details fields and add taxes one by one into the Multigrid
• What each field denotes is as below
  • TAX - All Indian taxes are provided in a combobox to choose
  • TAX PERCENT - The applicable tax percentage is to be set in this field
  • TAX UPON - The amount on which the tax is to be calculated
    • TOTAL BEFORE TAX means tax will be applied on the 'Amount Total' value. Eg. VAT
    • EXCISE DUTY means tax will be applied on the 'Basic Excise Duty' value. Eg. CESS is applied on Basic Excise Duty
    • TOTAL AFTER TAX means tax will be applied on the 'Amount Total with Tax' value
    • TOTAL AFTER ALL TAXES means tax will be applied last on the final 'Amount Total with Tax' value
  • TAX UPON % - The percentage of the amount on which the tax is to be calculated, which is mostly 100%
• Once the taxes are added, click SAVE