diff --git a/patches/may_2013/p08_change_item_wise_tax.py b/patches/may_2013/p08_change_item_wise_tax.py
new file mode 100644
index 0000000000..dbb949e3b2
--- /dev/null
+++ b/patches/may_2013/p08_change_item_wise_tax.py
@@ -0,0 +1,23 @@
+import webnotes
+import json
+from webnotes.utils import flt
+
+def execute():
+	for doctype in ["Purchase Taxes and Charges", "Sales Taxes and Charges"]:
+		for tax_name, item_wise_tax_detail in \
+			webnotes.conn.sql("""select name, item_wise_tax_detail from `tab%s`""" % doctype):
+				if not item_wise_tax_detail or not isinstance(item_wise_tax_detail, basestring):
+					continue
+				
+				try:
+					json.loads(item_wise_tax_detail)
+				except ValueError:
+					out = {}
+					for t in item_wise_tax_detail.split("\n"):
+						if ":" in t:
+							account_head, amount = t.split(":")
+							out[account_head.strip()] = flt(amount.strip())
+							
+					if out:
+						webnotes.conn.sql("""update `tab%s` set item_wise_tax_detail=%s
+							where name=%s""" % (doctype, "%s", "%s"), (json.dumps(out), tax_name))
\ No newline at end of file
diff --git a/patches/patch_list.py b/patches/patch_list.py
index 75e5744039..e877b92e8f 100644
--- a/patches/patch_list.py
+++ b/patches/patch_list.py
@@ -255,4 +255,5 @@ patch_list = [
 	"patches.may_2013.p05_update_cancelled_gl_entries",
 	"patches.may_2013.p06_make_notes",
 	"patches.may_2013.p07_move_update_stock_to_pos",
+	"patches.may_2013.p08_change_item_wise_tax",
 ]
\ No newline at end of file