OVERVIEW OF CESS IN MARG BOOKS
Cess taxes are usually imposed to generate revenue for a specific purpose or to fund a particular program, project, or service. This allows the government to ensure that the revenue collected is dedicated solely to the intended use. Examples of Cess Taxes are: Education Cess, Health Cess etc.
PROCESS TO ENABLE CESS IN MARG BOOKS
In 'Cess Calculation' option, the user will select calculation as following:
a. Rate*Qty: Multiply the rate by the quantity, then multiply the result by the cess percentage .
b. Rate*Qty-Disc: Calculate total amount by multiplying the rate by the quantity and subtract the discount from the total amount to get net amount, then multiply the net amount result by the cess percentage.
Suppose select 'Rate*Qty' calculation.