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FAQ-22 ( Excise for Manufacturers):

How do I record the transaction for CENVAT Credit Reversal as per Rule 6 of CENVAT Credit Rules, in Tally.ERP 9? 

Query

 

When a Excise Invoice is recorded with more than 2 items using Excise Duty Ledgers for which the rounding off option is enable, the duty amount gets rounded off as per the type of rounding method defined and displays the rounded off amount in the Invoice. On taking the Excise Sales Invoice print out the duty amount against the stock item is not rounded off and there is difference of One rupee in the Duty Ledger balance and the total of duty of all Items. Even the Duty amount in words is also different. Why?

 

Answer

 

Difference of value in calculation of Excise duty, Education Cess and Secondary Education Cess occurs when you have selected Rounding Method in ledger master or in voucher class created in voucher type master.

 

Let us consider a scenario, you have recorded a sales invoice with three stock items and duty calculated for the all the three items @ 8% is 100.56. Assume you have set the rounding off option in the ledger master (if you have voucher class created for voucher type you might have defined rounding off to the ledger master).

 

In the above example for the duty ledger normal rounding method with nearest rounding to 1 rupee id defined. In Invoice, the duty amount will get rounded off based on the method selected in the ledger master or voucher class i.e., 101.00.

 

In this scenario, as there are three items the duty value of Rs. 100.56 will be calculated as

 

Item A          -        33.52

Item B          -        33.52

Item C          -        33.52

 

If you check the Statutory Details of Excise Sales Invoice the Duty division of items will be displayed as 33.52 for all the three items. System will not understand how to apportion (apportion to one item or apportion to Last item of the invoice etc.) the balance of 00.44 to all the three items as it is not possible to define the logic for adjustment. Even if the Logic is defined definitely there will be difference in duty details of any one of the stock items.

 

As you have defined the round off option for the duty master the ledger balance gets rounded off but the duty amount of individual stock items will not get rounded off. Hence you will have difference in the duty ledger balance and total of Duty of stock items

 

To solve this problem of difference in Duty amount and duty in words, we suggest you alter the duty ledgers (Basic Excise Duty/ Education Cess / Secondary Education Cess) / voucher class and define Not Applicable for Rounding Off option

 
 
 
 
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