In case of companies which have many stock items and doesn't want to define Duty to each item separately when ever there is change in duty (because of budget or any other reason), can use multi stock duty alteration option available in Tally.ERP 9 to copy the duty details of one stock item to multiple stock items.
Example: Update the excise duty details of Hot Rolled Coil to other stock Items like Cold Rolled Coils, Iron Rod 6mm, Iron Rod 4mm etc.
To update excise duty details to multiple items press Alt+U or select the option U : Updating Excise Duty for Multiple Stock Items and press Enter to view Set Excise Duty Rates Setup screen.
In Set Excise Duty Rates Setup screen
Destination Type: Here select the destination type to which You want to copy the duties. Tally.ERP 9 gives 3 Destination Types
Stock Groups: If this destination type is selected, the duty details will get copied to all the stock items created under the selected Stock Group.
Stock Items: If this destination type is selected, the duty details will be copied to the Stock Item selected.
Tariff Classifications: If this destination type is selected, the duty details will get copied to all the stock items which fall under the selected Tariff Classification.
Here, Tariff Classifications is selected as the Destination Type
Select Coils from the List of Tariff Classifications
Note: The above screen displays the details (Excise Unit Name, valuation Type,Units, etc.) which will copied to the stock items.
Now the stock items created under Tariff Classification Coils would have been updated with the excise duties. Details like -
Stock Items to which the duty rates are updated
Number of stock items grouped under stock group/tariff classification (displayed when the Stock Group /Tariff Classifications is selected in Copy to field)
To how may Items update has been done.
will be displayed in the Calculator Pane.
Note: You can also update excise duty for multiple stock items from Gateway of Tally > Inventory Info. > Stock Items > Update Excise Duties