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Question Base [F.A.Q.]- EXCISE for MANUFACTURER @ Tally.ERP 9

1. Basic Concept of Excise Duty @ Tally.ERP9

The following are some of the basic terms related to Excise.
A : Scope and Applicability
B : Excise Valuation Methods
C : CENVAT Credit
D :Registration of Manufacturers
E :Requirements of Excise Invoice
F :Types of Duties and Method of Calculation
G :Time and Mode of Payment of Duty
H :Returns & Timelines
i :Ailent Features of Excise in Tally.ERP9
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2. 'Enabling Excise for Manufacturer in Tally.ERP9

Its a one time configuration in Tally.ERP 9 for Excise features to be enabled for Manufacturers. Let us consider the example of M/s. Metal Craft Engineering Pvt. Ltd., who are engaged in the business of manufacturing Hot Rolled Beams, Cold Rolled Channels, Slotted angles and so on.

 

Enable the Excise for Mafucaturer under follwing 3 Steps..

Step- 1 : Create Compnay

Step- 2 : Enable Excise

Step-3 : Enable Value Added Tax (VAT)

 
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3. 'Creation of Masters / Ledgers for Excise-Manufacturer @ in Tally.ERP9

Once you have enabled Excise in Tally.ERP 9 in the manner as discussed above, the  Excise options will now be available in the ledger masters.

 

 Creating Ledgers

 

Before creating transactions create the following ledger masters in the manner as discussed.

 

i - Create Purcahse Ledger

 

ii - Create Sales Ledger

 

iii - Create Customer Ledger

 

iv - Create Supplier Ledge

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4. 'Creation Excise Duty Ledger for Excise-Manufacturer @ in Tally.ERP9

 

 

 

Ledger

 

 

Under

 

Type of

Duty/Tax

 

 

Duty Head

Inventory values are affected

Basic Excise Duty @ 16%

Duties & Taxes

Excise

Basic Excise Duty

No

Education Cess @ 2%

Duties & Taxes

Excise

Education Cess

No

Secondary Education

Cess @ 1%

Duties & Taxes

Excise

Secondary

Education Cess

No

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5. 'Creation CENVAT Ledger for Excise-Manufacturer @ in Tally.ERP9

 

 

 

Ledger

 

 

Under

 

Type of Duty/ Tax

 

Excise Account- ingCode

 

 

Duty Head

Percent- age of Calcula- tion

 

Method of

Calculation

Basic Excise

Duty (CENVAT)

Current

Assets

CENVAT

00490027

Basic Excise Duty

16%

On Assessable Value

Education Cess

(CENVAT)

Current

Assets

CENVAT

00490028

Education

Cess

2%

On

Total Excise

Duty

Secondary Education Cess (CENVAT)

Current

Assets

CENVAT

00490029

Secondary Education Cess

1%

On

Total Excise

Duty

 
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6. 'Creation EXPENSES Ledger for Excise-Manufacturer @ in Tally.ERP9

 

 

Ledger

 

 

Under

Inventory values are affected

Use for Assessable Value Calculation (for Excise / VAT)

 

Method of

Apportion

Packing Charges

Indirect Expenses

No

Yes

Based on

Value

Freight Charges

Indirect Expenses

No

Yes

Based on

Value

Labour Charges

Indirect Expenses

No

Yes

Based on

Value

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7. 'Creation VAT Ledger for Excise-Manufacturer @ in Tally.ERP9

 

Ledger

 

Under

Type of Duty/ Tax

 

VAT/Tax Class

Inventory values are affected

Input VAT @ 4%

Duties & Taxes

VAT

Input VAT @ 4%

No

Input VAT @ 12.5%

Duties & Taxes

VAT

Input VAT @ 12.5%

No

Output VAT @ 4%

Duties & Taxes

VAT

Output VAT @ 4%

No

Output VAT @ 12.5%

Duties & Taxes

VAT

Output VAT @ 12.5%

No

 

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8. 'Creation Excise Voucher Types for Excise-Manufacturer @ in Tally.ERP9

 

Voucher Types

Type of

Voucher

 

Abbreviate

Use for

Excise

 

Default Excise Unit

Excise - Purchases

Purchase

Ex-Purc

Yes

Metal Craft Engineering

Excise - Sales

Sales

Ex-Sale

Yes

Metal Craft Engineering

Sales Returns

Credit Note

Ex-C/Note

Yes

Metal Craft Engineering

Purchase Returns

Debit Note

Ex-D/Note

Yes

Metal Craft Engineering

Manufacturing Journal

Stock Journal

Ex-Stk Jrnl

-

-

 

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9. 'Creation Tariff Classification for Excise-Manufacturer @ in Tally.ERP9

As per the Excise Tariff Act, all the excisable goods are classified under a specific code known as Tariff  Classification code, which consists of 8 digits. Out of these eight digits, the first 4 digits denote Chapter and heading and next 2 digits represent sub-heading and the last 2 digits indicate sub-sub heading of the particular article/commodity.

 

 

To create a Tariff Classification,

 

Go to Gateway of Tally > Inventory Info. > Tariff Classification > Create

 

1. Enter the name of the Tariff Classification e.g. 72221111 in the Name field.

2. In Used For field select Excise from the list of Tax Type
3. In Notes field, enter any additional information
 
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10. 'Creation Stock Items for Excise-Manufacturer @ in Tally.ERP9

 

 

Name

 

Stock Group Name

 

 

UOM

 

Tariff Clas- sification

Set/ Alter Excise Details

 

Valuation

Type

 

Rate Of VAT

Iron Bars

Raw

Materials

Kgs

72221111

Yes

MRP Based

4%

Steel Sheets

Raw

Materials

Kgs

72221191

Yes

Ad

Quantum

12.5%

Hot Rolled Beams -

25mm

Finished

Goods

Nos

72221199

Yes

Ad

Valorem

4%

Cold Rolled Channels

- 10 mm

Finished

Goods

Nos

72221992

Yes

Ad

Valorem

12.5%

Slotted Angle - 10mm

Finished

Goods

Nos

72221166

Yes

Ad

Valorem

12.5%

 

i. Create Stock Items on MRP

ii. Create Stock Items on Ad Quantum

iii. Create Stock Items on Ad Valorem

iv. Create Stock Items on - Finished Goods ( Ad Valorem)

 

 
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Tally.ERP9 Report
  1. Unit Objectives
  2. Modifying Reports (Options)
  3. Balance Sheet
  4. Profit & Loss Account
  5. Stock Summary
  6. Trial Balance
  7. Day Book
  8. Books of Accounts
  9. Statement of Accounts
  10. Inventory Books
  11. Statutory Reports
  12. List of Accounts ( Chart of Accounts)
  13. Exception Reports
  14. Printing Reports
Tally.ERP9 MIS and Other Reports
Q-Base [ F.A.Q.]
Question Base [F.A.Q.]- Centreal Sales Tax (CST) @ Tally.ERP 9
Question Base [F.A.Q.] on EXCISE for DEALER @ Tally.ERP 9
Question Base - EXCISE for MANUFACTURER @ Tally.ERP 9
Question Base [F.A.Q.]- 'JOB Costing' @ Tally.ERP 9
Question Base - PAY-ROLL @ Tally.ERP 9
Question Base [F.A.Q.]- Point Of Sale (POS) @ Tally.ERP 9
Question Base [F.A.Q.]- Service TAX @ Tally.ERP 9
Question Base [F.A.Q.]- Technology & Utility @ Tally.ERP 9
Question Base [F.A.Q.]- Value Added Tax (VAT) @ Tally.ERP9
 
Reports @ Tally.ERP 9
 
 
 
Company Information @ Tally.ERP9
Group & Ledger

Introduction
1. THE GROUP
2. THE LEDGER
3. VOUCHERS TYPES

Advanced Inventory / Stock
Meaning
Order Processing
Re-Order Levels
Tracking Numbers
Batch-wise Details
Additional Cost Details
Bill of Materials (BOM)
Price Lists and Price Levels
Stock Valuation
Zero Valued Entries
Inventory Ageing Report
Actual and Billed Quantities
Advanced Usage of Vouchers
Maintain Bill-wise Details
Cost Center and Cost Category
Interest Calculation
Reversing Journals
Post-Dated Voucher
Memo (Memorandum) Voucher
Optional Voucher
Using Tracking Number
 
Statutory & Taxation
Utilities & Others @ Tally.ERP9
Credit Limits
Knowledge Base @ Tally.ERP9
Stock Items
Stock Groups
Inventory Masters
Inventory Vouchers
Inventory Report Statements
Balance Sheet
Accounting Reports
Accounting Vouchers
Interest Calculation
VAT-Value Added Tax
Service Tax
TDS (Tax Deducted at Source)
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