Speed Net Service tax calculation problem in BNPL Bill

The service tax update has been completed successfully at this office and the current service tax 14% effected in all modules except Speed Net 4.2. While generating the monthly bill for BNPL customers it calculates the service tax at the rate of 12.36% instead of 14%.

Solution:

The new rates for service tax can be updated in Speed Net using the option available under 'Supervisor --> BNPL --> BNPL Configuration --> Miscellaneous --> Service Tax' window. The values that need to be configured for new service tax rate is detailed below: 

1. Effective date: 01.06.2015 
2. Service tax rate: 14% 
3. Education tax rate: 0% please takes action accordingly. 

Note: Tariff calculation with new tax rates will get effected from the data of updation of tax rates and tariff for old bookings/billing will not get updated.