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ALT+D : Excise Duty Ledgers

(Quick Setup for Excise for Manufacturer in Tally.ERP 9)

Excise Duty Ledgers are created to account the duty liability on the goods removed or to account the CENVAT Credit portion which is not availed during purchase of Inputs.

To create Excise Duty Ledger press Alt+D or select the option D: Excise Duty Ledgers and press Enter to view Excise Duty Ledgers Setup screen.

Basic Excise Duty Ledger

In Excise Duty Ledgers Setup  screen

1.    Enter the Name of the excise duty ledger you wish to create, for e.g., Basic Excise Duty @ 10% in Name of Ledger field

2.    Select Duties & Taxes as the group name in the Under field.

 

3.    In Excise Duty Type field select Basic Excise Duty from the List of Excise Duty Ledger

http://www.tallysolutions.com/website/CHM/TallyERP9/Taxation_Setup/Images/Taxation_Setup_-_Excise_for_Manufacturer_16.gif
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4.    In Duty Head field based on the duty type selected in Excise Duty Types field duty head will be displayed automatically. e.g. Basic Excise Duty.

5.    In Excise Accounting Code field enter the accounting code of Basic Excise Duty- 00380003.

Note:  8 digit Accounting Code and amount tendered against each type of duty should be mentioned in G.A.R.-7 Challan.

5.    In Rate of Duty field mention the applicable rate of duty - 10%

Education Cess Ledger

1.    Enter the Name of the education cess ledger you wish to create, for e.g., Education Cess @ 2%.

2.    Select Duties & Taxes as the group name in the Under field.

3.    In Excise Duty Type field select Education Cess from the List of Excise Duty Ledger

4.    In Duty Head field based on the duty type selected in Excise Duty Types field duty head will be displayed automatically. e.g. Education Cess.

5.    In Excise Accounting Code field enter the accounting code of Basic Excise Duty- 00380111.

6.    In Rate of Duty field mention the applicable rate of duty - 2%

Secondary Education Cess Ledger

1.    Enter the Name of the excise duty ledger you wish to create, for e.g., Secondary Education Cess @ 1%.

2.    Select Duties & Taxes as the group name in the Under field.

3.    In Excise Duty Type field select Secondary & Higher Education Cess from the List of Excise Duty Ledger

4.    In Duty Head field based on the duty type selected in Excise Duty Types field duty head will be displayed automatically. e.g. Secondary Education Cess.

5.    In Excise Accounting Code field enter the accounting code of Basic Excise Duty- 00380003.

6.    In Rate of Duty field mention the applicable rate of duty - 1%

http://www.tallysolutions.com/website/CHM/TallyERP9/Taxation_Setup/Images/Taxation_Setup_-_Excise_for_Manufacturer_17.gif
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7.            Press Enter to save.

Note: You can also create Excise Duty Ledgers from Gateway of Tally > Accounts Info. > Ledgers

          To know more on creating excise duty ledgers from Ledgers menu refer topics -

1. Creating Basic Excise Duty Ledger

2. Creating Education Cess Ledger

3. Creating Secondary Education Cess Ledger

 
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