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FAQ-6 ( Excise for Manufacturers):

Is it possible to account Advance Payments of Excise Duty in Tally.ERP 9 and adjust the same towards Duty Payable?

Yes, it is possible to account Advance Excise duty payments in Tally.ERP 9.

Advance Duty payment can be made against any Duty head. Most of the users select basic Excise duty for Advance payment of Duty as the Basic Excise duty paid can be adjusted against any of the Duty Head.  If you know the exact break-up of duties you can make advance payment towards education and secondary education cess also.

Follow the below mentioned procedure to record the advances

1. Record a Payment Voucher

  • In Account field select bank Ledger e.g. SBI Bank
  • Under Particulars field select the excise Duty ledger - Basic Excise Duty @ 16% and press enter to view Excise Duty Allocation screen
  • In the Excise Duty Allocation screen > select Type of Ref as Advance > in Name field specify the bill name as Adv/001 > Excise Unit field select the Excise unit which is making the advance payment of tax. e.g ABC Company >mention the advance amount paid

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  • In Provide Details select the Excise Unit and specify the Challan Details

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  • Save the entry.

Note: Advance Excise Duty entry can also be recorded in Double Entry Mode. Advance Duty paid details can be viewed in PLA Register and Excise Computation

Step 2: Adjustment of Advances against the Duty Payable (Journal Voucher)

Advance adjustment against the Duty Payable can be recorded using Journal Voucher Type

1. Create the Voucher Class in Journal Voucher

In Journal Voucher Tab Down to Name of Class field and specify the class name as - CENVAT Credit Adjustment and set the option use Class for Excise/CENVAT Adjustments in Voucher Type Class Screen

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Note: If you have already created the voucher class in Journal Voucher to adjust the CENVAT Credit, the same can be used to adjust the advances. In Journal Voucher typeseparate flag - Adjustment Towards Advance Duty Paid    has been provided in Journal Voucher to adjust the duty payable.

2. Record a Journal Voucher

Go to Gateway of Tally > Accounting Vouchers > F7: Journal

  • In Change Voucher Type screen select the Class as CENVAT Credit Adjustment
  • In Used for field select Adjustment towards Advance Duty paid as the Excise Adjustment

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  • In Excise Unit field select the appropriate Excise Unit to adjust the advances.
  • In Debit field select the Excise Duty Ledger - Basic Excise Duty @ 16% .
  • In Excise Duty Allocation screen the Type of Ref will be defaulted to Agst Ref. In the Name field select the bill towards which the advance to be adjusted. Accept the default amount displayed in Amount field.

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  • In Credit field select the excise duty ledger against which advances are made. In this case advance payment was made towards Basic Excise Duty @ 16%.
  • In ExciseMfgr AdvAdjustments  screen, select the advance bill which should be used to adjust the Duty payable. In the Amount filed specify the amount of advance adjusted

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Enable Provide Details option and in Adjustment Details mention the period for which the advances are adjusted

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Save the entry.

Adjusted and Balance advance duty paid details will be displayed in the Excise Computation report.

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