What is national calamity contingency duty in SAP FI - Financial Accounting?

SAP Term: national calamity contingency duty

• Component: FI

• Component Name: Financial Accounting

• Description: In India, a form of excise duty levied over and above additional excise duty. It applies to a range of products, such as tobacco or high-speed diesel and oil.

Smart SAP Assistant

• Key Concepts: 
  National Calamity Contingency Duty (NCCD) is a tax levied by the Indian government on certain goods and services. It is applicable to all goods and services that are taxable under the Value Added Tax (VAT) system. The NCCD is imposed in order to provide relief to those affected by natural disasters or other calamities. 
  
  How to use it: 
  In SAP Financial Accounting, NCCD is used to calculate the tax amount for goods and services that are subject to the NCCD. The tax rate for NCCD is determined by the Indian government and can vary from state to state. The tax amount is calculated based on the value of the goods or services being taxed. 
  
  Tips & Tricks: 
  When calculating the NCCD, it is important to ensure that the correct tax rate is applied. Additionally, it is important to ensure that all applicable taxes are included in the calculation. 
  
  Related Information: 
  The NCCD is part of the Indian Value Added Tax (VAT) system. For more information on VAT, please refer to the SAP Help Portal or contact your local SAP representative.