[Mifos-users] Service Tax for Loan Charges

[Thomas Varghese]

Hello,

 

How can we configuration Service Tax for Loan Charges on Mifos for Indian Service Tax Regulations?

My understanding is that Service Tax in Mifos is not supported for Loan. The article https://mifosforge.jira.com/wiki/display/docs/Manage+Tax+configuration says that this is supported only for savings/recurring/fixed deposit 

 

Thomas Varghese | CTO

thom...@knabfinance.com | www.knabfinance.com | www.linkedin.com/in/thomasbglr

  BizSmart Loan supports SMEs with the right finance

 

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[Ed Cable]

Thomas,

I'm sorry that this request went without a reply. I do believe you are correct that the VAT can only be calculated on savings accounts and not loan accounts. 

Sampath - can you please clarify if that is the case.

Thomas, if that is a feature that you require you can put in a feature request through the Apache Fineract issue tracker or something that your team could try and take up.

Ed

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[thom...@knabfinance.com]

Thanks Ed.

Since this feature was not there, we starting doing the Service Tax computation outside the Mifos system.

Regards,

Thomas