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FAQ-2 ( Excise for Dealers):

How to accounting opening balance for Importer (Excise for Dealer) as per new notification changes effective from 01/04/2014 in Tally.ERP9

As per the recent ‘Notifications (8 to 11 of 2014 CE (NT),Effective from 01/04/2014, all the “Importers” should get fresh registration under the category of ‘Importer’ in addition to their earlier registration which is applicable for ‘Dealer’. 

The ‘Closing quantity of Imported Stock items’ available as on 31.3.2014 with the dealer shall be taken as ‘Opening Quantity’ and cleared with the ‘New registration number’.

Implication of the notification:-

(I)             The pending quantity of the imported stock item, available in the existing Godown (Excise Unit) to be transferred to new Godown (new Excise unit for new registration number).

 

(II)            The clearance of existing and new imported stock items should be with the new registration number.

 

How it achieved:-

The requirements of the new notification can be achieved through a workaround solution which consists of the following steps:-

Step 1:- Data to be split from 1-4-2014

This step is required to bring the ‘Closing Quantity Balance’ available as on 31-03-2014 of “ Imported Goods” as opening balance to the New Excise Unit.

From Gateway of Tally > Alt +F3 > Split company data > Select the company > mention split from as 1-4-2014.

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After splitting the data, in the second child company i.e. the company from 1-4-2014, create one more ‘Godown’, with ‘Primary’ and enable ‘Dealer’ as ‘Registration Type’ and specify new registration number (As per new rule for Importer).

For creating Godown (New Excise Unit), you can follow:-

Gateway of Tally > F11 > F2 > Enable the option “Maintain multiple Godowns/Excise units"

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Create a Godown: - Gateway of Tally > Inventory info > Godown/Excise units > Create > Mention godown name (Ex: - Importer Godown) > under primary > Dealer > Set /alter excise details = yes.

 

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Mention new registration number of importer under Excise registration (ECC) no and date of registration and accept the screen.

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Step 2:- Create two more voucher types i.e. Excise Purchase and Excise Sales for the New Excise Unit.

Gateway of Tally > Accounts info > Voucher Types>Create >Specify any appropriate name for example Excise Purchase (Imports) > under purchase > Enable the option use for excise = Yes and select the New Excise Unit / Godown i.e. Importer Godown and save the screen.

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Similarly, create a new voucher type for Excise sales and tag with ‘New Excise Unit’ and save the screen.

Step 3:- Export the ‘Excise Closing Stock’ from the Parent Company and import into the New Company.

Open the Parent Company (Original Company) ---> From Gateway of Tally --->Inventory Info --->Update Excise Info -->Dealer Excise Closing Stock ----> Export (Alt+E).

Note: After opening the parent company ensure that the period selected is from the books beginning date to end of last financial year. For example if the parent company had been created on 1-4-2010 then specify the period as 1-4-2010 to 31-3-2014.

Note: - While exporting ‘Excise Closing Stock’ select ‘XML’ format.

Step 4:- Import the XML file into the ‘Second Child’ Company

Now load the second child company i.e. the company which has been created after splitting i.e. the company From 1-4-2014.

For importing the XML file:- From Gateway of Tally --->Import of Data --->Vouchers --->specify the file (by default the file would be Tally.xml) and select ‘Dealer Excise Opening Stock’.

Note: - Before Importing the XML file ensure that the ‘Current Date’ in the ‘Gateway of Tally’ is 1-4-2014.

Step 5:- All the stock items to be configured with ‘Importer Godown” master.

Gateway of Tally > Inventory info > Stock items > Alter > Set/Alter excise details = yes > select New excise unit (Importer Godown) and mention the duty details and accept the stock item.

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Note: - After configuring the stock item with the ‘New Godown’ (Importer Godown) and respective duty details, you can copy these details to other stock items use the following option>

From Gateway of Tally > Inventory info > Update Excise info > Rate of duty > in copy from select the item for which Import Godown and duty details were configured > and in destination type select > Tariff Classifications > and against Copy to> Select ‘All Items’.

The above process will enable you to copy the ‘Godown and Duty Details’ from one stock item to all the stock items of that particular ‘Tariff classification’.

Note: - Incase if there are more stock item belong more than one ‘Tariff Classification’, it is necessary to repeat the above process for each ‘Tariff Classification’.

Step 6:- Record Excise opening stock entry by selecting new voucher type (Importer purchase).

After importing the ‘XML’ file by following step 4 process, in the second child company, there would be ‘Excise Opening Stock’ entries in ‘Optional’ voucher mode.

Among these entries, there would be ‘Excise Opening Stock’ entries for both ‘locally Purchased Goods’ and for ‘Imported’ goods. Since, locally purchased goods can be cleared from the existing ‘Dealer Registration’ and from the existing Dealer Godown, no need to do any changes.

But incase of “Imported goods”, it is required to transfer the balance quantity from existing Dealer Godown to new “Importer Godown”.

Step 7:-How to transfer the Balance Quantity of Imported Goods

Scenario 1:- When full quantity has been sold in the current financial year.

The stock items which were imported in the previous financial year (upto 31-3-2014) would have been sold before the date of ‘New Registration Number’.  In this scenario, if the ‘Entire’ pending quantity as on 31-3-2014, has been sold, then no need to transfer any quantity because quantity would have been exhausted.

Scenario 2:- When part of the quantity has been sold before new registration number.

In this scenario, it is necessary to alter the existing ‘Excise Opening Stock’ entry which has been imported. Go into the respective ‘Excise Opening Stock’ entry in alteration mode and select the stock item which is partly sold and go into ‘Excise details for’ window as shown below and edit the ‘Excise opening Stock’ field and specify the quantity to the extent it has been sold in the current year.

For example: if this field is captured 75 nos but 25 numbers were sold before new registration then specify only 25 nos and save the transaction. Do not do any changes of ‘Assessable value’, duty amount etc.

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Continuing with the above example, for the remaining 50 numbers, it is required to record an ‘Excise Opening Stock’ entry by following the below given procedure.

From Gateway of Tally --->Inventory Info --->Update excise Info ---> Dealer Excise Opening Stock --->Press F9 and select the ‘Newly Created excise Purchase’ voucher type and record the transaction. In the ‘Excise Details for’ screens shown below, enter the balance quantity which is unsold i.e. 50 Nos and before Supplier Invoice number’ prefix “BE” denoting ‘Bill of Entry’ as shown below:

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Record a normal stock journal for moving the balance quantity (50 numbers from the above example) from the existing ‘Dealer Godown’ to the new ‘Importer Godown’ as shown below:

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Note: Now when you record a new Excise sales transaction using ‘New Excise sales’ voucher (configured with the new excise unit / godown), you will get the supplier reference for 50 numbers.

Scenario 3:- When there is no sale happened in the current year.

The stock items which were imported in the previous financial year but no sale has happened in the current financial year (2014-15). In this case, note down all the details of the ‘Excise Opening Stock’ entry of the particular stock item and delete the entry from the second child company. Re-record the ‘Excise Opening Stock’ entry from Gateway of Tally -->Inventory Info -->Update Excise Info --->Dealer Excise Opening Stock --->Press F9 and select the new Excise Purchase voucher type and record the transaction with all the details noted down from the deleted entry.

Note: With the above changes, it is possible to clear / remove / sell the ‘Imported’ goods with the new excise registration number by using the New Voucher Type i.e.  Excise sales (Imports)

How to record Delaer Excise Opening Stock in Tally.ERP 9?

To update Dealer Excise opening Stock

Go to Gateway of Tally > Inventory Info. > Dealer Excise Opening Stock

In the Dealer Excise Opening Stock Creation screen

  • Enter the Purchase Invoice Number
  • Select the Party Ledger. In Suppliers Details sub form party's excise information will be displayed if all the details are provided in the ledger master, otherwise update the information in the supplier details.

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Note: While recording purchases from First /Second Stage Dealer, select the Manufacturer/ Importer in the Manufacturer/Importer section to capture Excise related information in the invoice.

  • Select the Purchase ledger
  • Select the Stock Item, enter the Quantity and Rate of purchase

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Press Enter to view the Excise Details screen. In the Excise Details screen enter the details as shown

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Press Enter to accept the excise opening stock entry.

Note:    1. The opening stock accounted through Opening Stock Voucher Will update the Excise Stock Register only . To affect the books of accounts Opening stock quantitiesand Rate needs to be updated in the Stock Item Master separately .

2. To edit the Excise Opening Stock Details which was recorded from Gateway of Tally - Inventory Info. - Dealer Excise Opening Stock

- Go to Gateway of Tally > Display > Day Book

OR

- Go to Gateway of Tally > Display > Exception Reports > Optional Vouchers.

 
 
 
 
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