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ALT+U : Updating Excise Duty for Multiple Stock Items

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

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 Pet Bottles - 1Ltr to other stock Items like Pet Bottles - 2Ltr , Pet Bottles - 700ml 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

·         Copy From: In this field select the stock item from which the duties to be copied i.e. Pet Bottles - 1Ltr

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·         Destination Type: Here select the destination type to which you want to copy the duties. Tally.ERP 9 gives 3 Destination Types.

o    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.

o    Stock Items: If this destination type is selected, the duty details will be copied to the Stock Item selected.

o    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

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o    Copy To: In this filed depending on the destination type selected, identify the stock item/Stock Group /Tariff Classifications to copy the excise Duties

  Select Plastic Bottles from the List of Tariff Classifications

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·         Press Enter to view Excise Duty Details screen

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Note: The above screen displays the details (Excise Unit Name, valuation Type,Units, etc.) which will copied to the stock items.

o    Press Enter to view Proceed to Set Excise Duty screen

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o    Press Enter to set excise Duty.

Now the stock items created under Tariff Classification Plastic Bottles 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.

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Note: You can also update excise duty for multiple stock items from Gateway of Tally > Inventory Info. > Stock Items > Update Excise Duties

          To know more on updating excise duty for multiple stock items refer the topic -Multi Stock Duty Alteration

 
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