Excise for Manufacturing in Tally.ERP9

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Presentation Description

This Presentation will show how to enable and maintain the Excise details in Tally.ERP9

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By: robertjones (45 month(s) ago)

good job... very informative... thanx for your hard work.

Presentation Transcript

Slide 1: 

Excise for Maunfacturer in Tally.ERP 9

Excise Duty or Duty on Excise is a tax on goods manufactured or produced in India and intended for domestic consumption i.e. sale in India. The Excise Duty is payable at the time of production or manufacture, however, for administrative convenience duty is paid at the time of removal of goods. Excise Duty

Slide 3: 

Excise Duty is an indirect tax. The liability of payment of Excise Duty is of manufacturers or producers (which is passed on to the ultimate consumer). The levy and collection of duty of Excise is provided under authority of the Central Excise Act, 1944 at the rates specified Central Excise Tariff Act, 1985. Excise Duty

Scope and Applicability : 

Scope and Applicability Excise Duty can be levied, only on the fulfilment of the below mentioned conditions… The Duty is on Goods. The Goods must be excisable. The goods must be manufactured or produced. Manufacture and Production must be in India.

Manufacturer : 

Manufacturer Manufacturer is a person who actually manufactures or produces excisable goods, i.e. one that actually brings into existence new and identifiable product.

Excisable Goods : 

Excisable Goods Excisable Goods means goods specified in the schedule to the Central Excise Tariff Act, 1985 as being subject to a duty of Excise. The Basic requirements to be satisfied are : Goods must be movable. Goods must be marketable i.e. the goods must be such that it is known in the market and is capable of being bought or sold.

Types of Excise Duties : 

Types of Excise Duties 1. Basic Excise Duty:This is the duty charged under section 3 of the Central Excises and Salt Act,1944 on all excisable goods other than salt which are produced or manufactured in India. Basic Excise Duty [also known as Central Value Added Tax (CENVAT)] is levied at the rates specified in Central Excise Tariff Act. 2. Special Excise Duty: As per the Section 37 of the Finance Act,1978 Special excise Duty was attracted on all excisable goods on which there is a levy of Basic excise Duty under the Central Excises and Salt Act,1944. Special Excise Duty is levied at the rates specified in the Second Schedule to Central Excise Tariff Act, 1985.

Types of Excise Duties : 

Types of Excise Duties 3.Education Cess on Excise Duty: Section 93 of Finance (No. 2) Act, 2004 states that education Cess is 'duty of excise', to be calculated on aggregate of all duties of excise including special excise duty or any other duty of excise, but excluding education Cess on excisable goods.

Types of Excise Duties… : 

4. Excise duty in case of clearances by EOU: The EOU units are expected to export all their production. However, if they clear their final product in DTA (domestic tariff area), the rate of excise duty will be equal to customs duty on like article if imported in India. 5. National Calamity contingent Duty (NCCD): A 'National Calamity Contingent Duty' (NCCD) has been imposed vide section 136 of Finance Act, 2001 [clause 129 of Finance Bill, 2001, w.e.f. 1.3.2001]. This duty is imposed on pan masala, chewing tobacco and cigarettes. Types of Excise Duties…

Types of Excise Duties… : 

6. Duties under other Acts: Some duties and cesses are levied on manufactured products under other Acts. The administrative machinery of central excise is used to collect those taxes. Provisions of Central Excise Act and Rules have been made applicable for levy and collection of these duties / cesses. Types of Excise Duties…

Types of Excise Duties… : 

Types of Excise Duties… 7. Additional Duty on goods of special importance - Some goods of special importance are levied Additional Excise under Additional Duties of Excise (Goods of Special Importance) Act, 1957. The 'Additional Duty' is in addition to excise duty. This scheme was introduced based on the suggestion made by the manufacturers to Government, that multiple level taxes and duties should be avoided. Levy and collection of all taxes at one stage by single authority will be con- venient for payment and administration. Hence, by agreement between Central and State Governments, it was decided to make a beginning in 1957, by selecting some items where additional duty will be collected instead of sales tax and such additional duty will be distributed among various States.

Types of Excise Duties… : 

Types of Excise Duties… 8. Duty on Medical and Toilet preparations: A duty of excise is imposed on medical preparations under Medical and Toilet Preparations (Excise Duties) Act, 1955. 9. Additional duty on mineral products - Additional duty on mineral products (like motor spirit, kerosene, diesel and furnace oil) is payable under Mineral Products (Additional Duties of Excise and Customs) Act, 1958. 10.Additional Customs Duty commonly known as countervailing Duty (CVD): Countervailing duty (CVD) is imposed on the Imports.

Types of Excise Duties… : 

Types of Excise Duties… 11.Special Additional Duty of Customs (Special CVD): Special CVD is being imposed on items bound under the Information Technology Agreement (except information technology software), and also on specified inputs/raw materials for manufacture of electronics/IT goods. 12. Additional Duties of Excise (Textiles and Textile Articles) [AED (TTA)] 13. Additional Duty of Excise (Tea and Tea Waste) [AED (TTW)] 14. Secondary Higher Education Cess

Valuation Methods : 

Valuation Methods Value of the excisable goods has to be necessarily determined to levy the duty on the goods. Under the Central Excise Act, 1944, the following methods of valuation of goods are considered for the assessment of Duty…

Valuation Methods ?1. Ad valorem/ Transaction Value: : 

Valuation Methods ?1. Ad valorem/ Transaction Value: Transaction value means the value of goods which are sold at the time and place of removal and includes in addition to the amount charged as price, any amount that the buyer is liable to pay to, including any amount charged for, or to make provision for, advertising or publicity, marketing and selling, organization expenses, storage, outward handling, servicing, warranty, commission or any other matter.

Valuation Methods ? 2. Ad Quantum: : 

Valuation Methods ? 2. Ad Quantum: In case of Ad Quantum the duty is payable on the basis of certain unit Like Weight, Length, volume etc. For Example: Duty on cigarette is payable on the basis of length of the cigarette, duty on Sugar is based on per Kg.

Valuation Methods ? 3. Value determined on the basis of M R P: : 

Valuation Methods ? 3. Value determined on the basis of M R P: Retail sale price means the maximum price at which the excisable goods in packaged form may be sold to the ultimate consumer and includes all taxes local or otherwise, freight, transport charges, commission payable to dealers, and all charges towards advertisement, delivery, packing, forwarding and the like, as the case may be, and the price is the sole consideration for such sale.

Duties eligible for CENVAT Credit… : 

Duties eligible for CENVAT Credit… A manufacturer or producer of final product is allowed to take CENVAT credit of duties specified in the Cenvat Credit Rules, 2002. The duties specified under Cenvat Credit Rules, 2002 are: Basic Excise Duty on inputs specified in the First Schedule to Central Excise tariff Act (corresponding CVD on imported goods is allowable). Special Excise Duty on goods specified in the Second Schedule to the Tariff Act (corresponding CVD on imported goods is allowable).

Duties eligible for CENVAT Credit… : 

Duties eligible for CENVAT Credit… Additional Excise Duty paid under Additional Duties of Excise (Textile and Textile Article). Additional Excise Duty paid under Additional Duties of Excise (Goods of Special Importance). National Calamity Contingent duty (NCCD). Education Cess and Secondary and Higher Education Cess on Excise Duty. Additional custom duty leviable under Customs Tariff Act (Spl. CVD) Education Cess and Secondary and Higher Education Cess on CVD Additional Excise Duty paid under Clause 85 of Finance Bill,2005 on Pan Masala and Certain other Tobacco products. Service tax on input services. Education Cess and Secondary & Higher Education Cess paid on service tax. This credit can be utilised only for payment of education cess on final product or output services.

Excise Control Code (ECC) Number : 

Excise Control Code (ECC) Number The ECC number is a registration number, issued to all the Central Excise Assessees. This Number is based on the principles of 'Common Business Identifier' which shall be used for revenue accounting, validation of documents (e.g. CENVAT invoices), inter-agency coordination and for creation of data warehouse.

Excise Control Code (ECC) Number : 

Excise Control Code (ECC) Number ECC number is a PAN based 15 digit alpha numeric numbers. The first part denotes 10 character (alpha numeric) Permanent Account number issued by Income tax authorities to the concerned person to whom the ECC Number is to be allotted and the second part comprises of a fixed 2 character alpha code which is as follows:

Excise Control Code (ECC) Number : 

Excise Control Code (ECC) Number

Excise Control Code (ECC) Number : 

Excise Control Code (ECC) Number Where the concerned person has more than one factory, say 3 factories, having PAN as aforesaid, then the ECC Number will be: ABCDE1234H XM 001 ABCDE1234H XM 002 ABCDE1234H XM 003 Where the concerned person has one factory and is also registered as dealer, having PAN as aforesaid, then the New ECC Number will be: ABCDE1234H XM 001 (for Factory) ABCDE1234H XD 001 (for Dealer)

Central Excise Invoice System : 

Central Excise Invoice System An invoice is the document under cover of which the excisable goods are to be cleared by the manufacturer. This is also the document which indicates the assessment of the goods to duty. No excisable goods can be cleared except under an invoice.

Removals only on invoice : 

Removals only on invoice Rule 11 of the Central Excise (No.2) Rules, 2001 provides that no excisable goods shall be removed from a factory or a warehouse except under an invoice signed by the owner of the factory or his authorised agent.

Serially numbered invoice : 

Serially numbered invoice The invoice shall be serially numbered and shall contain the registration number, description, classification, time and date of removal, rate of duty, quantity and value, of goods and the duty payable thereon. The serial number shall commence from 1st April every year [beginning of a financial year]. The serial number can be given at the time of printing or by using franking machine. But when the invoice book is authenticated in the manner specified in sub-rule (5) of rule 11, each leaf should contain serial number. Hand written serial number shall not be accepted.

Serially numbered invoice : 

Serially numbered invoice In case of computer-generated invoice, the serial number may be allowed to be generated and printed by computer at the time of preparation of invoice ONLY IF the software is such that computer automatically generates the number and same number cannot be generated more than once. For this purpose, the Central Excise Officers may check the system/software from time to time.

Number of Invoice copies : 

Number of Invoice copies The invoice shall be prepared in triplicate: The original copy being marked as Original For Buyer The duplicate copy being marked as Duplicate For Transporter The triplicate copy being marked as Triplicate For Assessee The above requirement is mainly for Central Excise purposes. However, the assessee may make more than three copies for his other requirements. But such copies shall be prominently marked Not For Cenvat Purposes.

Number of Invoice book : 

Number of Invoice book The rule 11of the Central Excise (No.2) Rules, 2001 provides that only one invoice book shall be in use at a time, unless otherwise allowed by the Deputy/Assistant Commissioner of Central Excise in the special facts and circumstances of each case. The Board has decided that where assessee requires two different invoice books for the purposes of removals for home-consumption, and removals for export they may do so by intimating the jurisdictional Deputy/Assistant Commissioner of Central Excise.

Number of Invoice book : 

Number of Invoice book Wherever, an assessee is allowed to keep more than one invoice book, he should be asked to keep different numerical serial numbers for the different sets. In case of running stationary used in computers, the bound book shall not be insisted upon provided the stationary is pre-printed with distinctive names and marks of the assessee. After the invoices are prepared, the triplicate copy shall be retained in bound-book form. Where invoices are to be typed written, the leafs have to be first taken out from the book for typing. In such cases also the triplicate copy shall be retained in bound-book form.

Authentication of Invoices : 

Authentication of Invoices The rule provides that owner or working partner or Managing Director or Company Secretary shall authenticate each foil of the invoice book, before being brought into use. However, in order to facilitate the trade it has been decided that any person duly authorised in this regard by the Company, owner or working partner may also authenticate invoices. Copy of the letter of authority should be submitted to the Range office.

Intimation of serial numbers : 

Intimation of serial numbers Before making use of the invoice book, the serial numbers of the same shall be intimated to the Superintendent of Central Excise having jurisdiction over the factory of the assessee. This can be done in writing by post/e-mail/fax/hand delivery or any other similar means.

Rounding off of duty in invoice : 

Rounding off of duty in invoice The amount of duty being shown in invoices issued under rule 11 of the Central Excise (No.2) Rules, 2001 be rounded off to the nearest rupee as provided for under Section 37D of the Central Excise Act, 1944 and the duty amount so rounded off should be indicated both in words as well as in figures.

Types of Duties and Method of Calculation : 

Types of Duties and Method of Calculation

Types of Duties and Method of Calculation : 

Types of Duties and Method of Calculation

Returns & TimelinesThe following Returns are required to be filed under Excise for Manufacturers : 

Returns & TimelinesThe following Returns are required to be filed under Excise for Manufacturers

Salient Features of Excise in Tally.ERP : 

Salient Features of Excise in Tally.ERP Simple and user-friendly Quick and easy to set up and use Allows Multiple Excise Registration (Manufacturer & Dealer) in Single Company Create Tariff (HSN) / Commodity Code Flexibility to have separate Unit of Measures for recording transactions and excise reporting

Salient Features of Excise in Tally.ERP : 

Salient Features of Excise in Tally.ERP Item wise Valuation Methods (Valorem, Quantum, MRP) Maintain Rule 11 Excise Invoice Can apportion Expense / Income ledger value to calculate Assessable Value Item wise Duty calculation for different Valuation Methods in single invoice Generate Rule 11 invoice for Purchase Returns Record Exempt, Export & Special Rate transactions Avail Full / Partial CENVAT Credit on Inputs and Capital Goods/ Service Tax towards Duty payable

Salient Features of Excise in Tally.ERP : 

Salient Features of Excise in Tally.ERP Reversal of CENVAT Credit Print G.A.R. -7 Challan Maintain Invoice Register Maintain RG -1 register Generate CENVAT Credit Register Generate ER-1 & ER-3 returns Maintain PLA Register Excise Computation Report

Excise Process in Tally.ERP : 

Excise Process in Tally.ERP

Enabling Excise in Tally.ERP : 

Enabling Excise in Tally.ERP Lesson 1: Enabling Excise in Tally.ERP

Slide 45: 

Name: Enter the excise invoice book name allowed by the Commissioner of Central Excise for the company/unit, e.g. ABC/Rule11/Book1/08-09

Slide 46: 

ABC - Denotes Company Name.

Slide 47: 

Rule 11: Denotes that invoice book is maintained as per Rule 11 of Central Excise Rules, 2002

Slide 48: 

Book1: Stands for Book Number, which is allowed for the current financial year

Slide 49: 

08-09: Denotes the financial year. ?

Creating Ledgers… : 

Creating Ledgers… 1. Creating a Supplier Ledger

Creating Ledgers… : 

Creating Ledgers… 1 Creating a Supplier Ledger 2 Creating a Customer Ledger

Creating Ledgers… : 

Creating Ledgers… 1 Creating a Supplier Ledger 2 Creating a Customer Ledger 3 Creating a Sales Ledger

Creating Ledgers… : 

Creating Ledgers… 1 Creating a Supplier Ledger 2 Creating a Customer Ledger 3 Creating a Sales Ledger 4 Creating a Purchase Ledger

Creating Ledgers… : 

Creating Ledgers… 1 Creating a Supplier Ledger 2 Creating a Customer Ledger 3 Creating a Sales Ledger 4 Creating a Purchase Ledger 5 Creating Input VAT Ledger

Creating Ledgers… : 

Creating Ledgers… 1 Creating a Supplier Ledger 2 Creating a Customer Ledger 3 Creating a Sales Ledger 4 Creating a Purchase Ledger 5 Creating Input VAT Ledger 6. Creating Output VAT Ledger

Creating Ledgers… : 

Creating Ledgers… 1 Creating a Supplier Ledger 2 Creating a Customer Ledger 3 Creating a Sales Ledger 4 Creating a Purchase Ledger 5 Creating Input VAT Ledger 6. Creating Output VAT Ledger 7. Creating Basic Excise Duty Ledger

Creating Ledgers… : 

Creating Ledgers… 1. Creating a Supplier Ledger 2. Creating a Customer Ledger 3. Creating a Sales Ledger 4. Creating a Purchase Ledger 5. Creating Input VAT Ledger 6. Creating Ouput VAT Ledger 7. Creating Basic Excise Duty Ledger 8. Creating Education Cess Ledger

Creating Ledgers… : 

Creating Ledgers… 1. Creating a Supplier Ledger 2. Creating a Customer Ledger 3. Creating a Sales Ledger 4. Creating a Purchase Ledger 5. Creating Input VAT Ledger 6. Creating Ouput VAT Ledger 7. Creating Basic Excise Duty Ledger 8. Creating Education Cess Ledger 9. Creating Secondary & Higher Education Cess Ledger

Creating Ledgers… : 

Creating Ledgers… 1 A Supplier Ledger 2 A Customer Ledger 3 A Sales Ledger 4 A Purchase Ledger 5 A Input VAT Ledger 6. A Ouput VAT Ledger 7. A Basic Excise Duty Ledger 8. A Education Cess Ledger 9. A Secondary & Higher Education Cess Ledger 10. A Basic Excise Duty CENVAT Ledger

Creating Ledgers… : 

Creating Ledgers… 1. Supplier Ledger 2. Customer Ledger 3. Sales Ledger 4. Purchase Ledger 5. Input VAT Ledger 6. Ouput VAT Ledger 7. Basic Excise Duty Ledger 8. Education Cess Ledger 9. Secondary & Higher Education Cess Ledger 10.Basic Excise Duty CENVAT Ledger 11. Education Cess CENVAT Ledger

Creating Ledgers… : 

Creating Ledgers… 1 Supplier Ledger 2 Customer Ledger 3 Sales Ledger 4 Purchase Ledger 5 Input VAT Ledger 6 Ouput VAT Ledger 7 Basic Excise Duty Ledger 8 Education Cess Ledger 9 Secondary & Higher Education Cess Ledger 10Basic Excise Duty CENVAT Ledger 11Education Cess CENVAT Ledger 12 Secondary & Higher Education Cess CENVAT Ledger

Creating Ledgers… : 

Creating Ledgers… 1. Supplier Ledger 2. Customer Ledger 3. Sales Ledger 4. Purchase Ledger 5. Input VAT Ledger 6. Ouput VAT Ledger 7. Basic Excise Duty Ledger 8. Education Cess Ledger 9. Secondary & Higher Education Cess Ledger 10. Basic Excise Duty CENVAT Ledger 11. Education Cess CENVAT Ledger 12. Secondary & Higher Education Cess CENVAT Ledger 13. Expense Ledger

Example : Based on Value : 

Example : Based on Value

Example : Based on Quantity : 

Example : Based on Quantity

Creating Excise Voucher Types… : 

Creating Excise Voucher Types… 1. Excise Purchase Voucher Type

Excise Purchase Voucher Type : 

Excise Purchase Voucher Type

Creating Excise Voucher Types… : 

Creating Excise Voucher Types… 1. Purchase Voucher Type 2. Sales Voucher Type

Sales Voucher Type : 

Sales Voucher Type

Creating Excise Voucher Types… : 

Creating Excise Voucher Types… 1. Purchase Voucher Type 2. Sales Voucher Type 3. Debit Note Voucher Type

Debit Note Voucher Type : 

Debit Note Voucher Type

Manufacturing Journal Voucher : 

Manufacturing Journal Voucher Manufacturing Journal is used to account… ? the issue of raw materials to production floor and ? for the receipt of finished goods.

Manufacturing Journal Voucher : 

Manufacturing Journal Voucher

Creating Tariff Classification … : 

Creating Tariff Classification … Each and every goods manufactured or produced have to be classified for finding out the rate of duty applicable. Accordingly, Central Excise Tariff Act 1985 classifies all the goods under 91 chapters and specific code is assigned to each item. This code is called Tariff Classification code, which consists of 8 digits. First 4 digits represent Chapter and heading a Next 2 digit represents sub-heading and The last 2 digit represents sub-sub heading.

HSN CODE : 

HSN CODE The Harmonized Commodity Description and Coding System (HS) of tariff nomenclature popularly known as Harmonised System of Nomenclature (HSN), is an internationally standardized system of names and numbers for classifying traded products developed and maintained by the World Customs Organization.

Creating Tariff Classification … : 

Creating Tariff Classification … 1. Plastic Bottles

Creating Tariff Classification … : 

Creating Tariff Classification …

Creating Tariff Classification … : 

Creating Tariff Classification … 1. Plastic Bottles 2. Plastic Bottle Caps

Creating Tariff Classification … : 

Creating Tariff Classification …

Creating Tariff Classification … : 

Creating Tariff Classification … 1. Plastic Bottles 2. Plastic Bottle Caps 3. Water

Creating Tariff Classification … : 

Creating Tariff Classification …

Creating Tariff Classification … : 

Creating Tariff Classification … 1. Plastic Bottles 2. Plastic Bottle Caps 3. Water 4. Linear Low Density Polyethylene (LLDPE)

Creating Tariff Classification … : 

Creating Tariff Classification …

Creating Stock Item - Raw materials : 

Creating Stock Item - Raw materials 1. Pet Bottles - 1Ltr

Creating Stock Item - Raw materials : 

Creating Stock Item - Raw materials 1. Pet Bottles - 1Ltr 2. Water Container 20 Ltrs

Creating Stock Item - Raw materials : 

Creating Stock Item - Raw materials 1. Pet Bottles - 1Ltr 2. Water Container 20 Ltrs 3. Bottle Caps

Creating Stock Item - Raw materials : 

Creating Stock Item - Raw materials 1. Pet Bottles - 1Ltr 2. Water Container 20 Ltrs 3. Bottle Caps 4. Low Density Polyethylene

Creating Stock Item - Raw materials : 

Creating Stock Item - Raw materials 1. Pet Bottles - 1Ltr 2. Water Container 20 Ltrs 3. Bottle Caps 4. Low Density Polyethylene 5. Natural Water

Creating Stock Item - Finished Goods : 

Creating Stock Item - Finished Goods 1. AquaPure - 1 Ltr

Creating Stock Item - Finished Goods : 

Creating Stock Item - Finished Goods 1. AquaPure - 1 Ltr 2. AquaMini - 200 ml

Creating Stock Item - Finished Goods : 

Creating Stock Item - Finished Goods 1. AquaPure - 1 Ltr 2. AquaMini - 200 ml 3. AquaKing - 20 Ltr

Creating Stock Item - Finished Goods : 

Creating Stock Item - Finished Goods 1. AquaPure - 1 Ltr 2. AquaMini - 200 ml 3. AquaKing - 20 Ltr 4. AquaEase - 20Ltr

Slide 176: 

Transactions

Creating a Excise Purchase Voucher Not Availing CENVAT Credit : 

Creating a Excise Purchase Voucher Not Availing CENVAT Credit

When the CENVAT Credit is not availed : 

When the CENVAT Credit is not availed The Duty Legers selected won't display the ledger balance and duty amount will be apportioned to the Stock Item cost.

Slide 190: 

Creating a Excise Purchase Voucher Availing CENVAT Credit

When the CENVAT Credit is availed… : 

When the CENVAT Credit is availed… The Duty Ledgers selected will display the ledger balance and duty amount will not be apportioned to the Stock Item Rate.

When the CENVAT Credit is availed… : 

When the CENVAT Credit is availed… In Stock Vouchers report stock item rate is displayed as the actual purchase rate. In this case the duty amount is not apportioned to the Stock item.

Creating a Manufacturing Voucher : 

Creating a Manufacturing Voucher Manufacturing of Packed Drinking Water being a Process Industry, Manufacturing Journal is used to account the issue of raw materials to production floor and for the receipt of finished goods. In case of discrete industries, Stock Journal can be used to account the issue of Raw materials to production floor and for the receipt of finished goods

Creating a Manufacturing Voucher… : 

Creating a Manufacturing Voucher… To Manufacture > AquaPure - 1Ltr using Manufacturing Journal

Creating a Manufacturing Voucher… : 

Creating a Manufacturing Voucher… To Manufacture 10,000 U > AquaMini - 200 ml using Manufacturing Journal

Creating a Manufacturing Voucher… : 

Creating a Manufacturing Voucher… To Manufacture 10,000 U > AquaKing – 20 Ltr using Manufacturing Journal

Creating a Manufacturing Voucher… : 

Creating a Manufacturing Voucher… To Manufacture 1000 U > AquaEase - 20Ltr using Manufacturing Journal

Slide 222: 

Creating a Excise Sales Voucher_ Rule 11 Invoice

Slide 237: 

Rule 11 Invoice for Stock Items Falling Under Different Valuation Type

Slide 251: 

Rule 11 Invoice for Stock Items with Expenses

Creating a Debit Note (Purchase Returns) _ Rule 11 invoice : 

Creating a Debit Note (Purchase Returns) _ Rule 11 invoice As per Rule 11 of the Central Excise (No.2) Rules, 2001 provides that no excisable goods shall be removed from a factory or a warehouse except under an invoice signed by the owner of the factory or his authorised agent. The invoice shall be serially numbered and shall contain the registration number, description, classification, time and date of removal, rate of duty, quantity and value, of goods and the duty payable thereon.

Creating a Debit Note (Purchase Returns) _ Rule 11 invoice : 

Creating a Debit Note (Purchase Returns) _ Rule 11 invoice Invoicing under Rule 11 of the Central Excise (No.2) Rules, 2001 is applicable even for Purchase Returns. In case of purchase returns goods are removed from factory or warehouse to return the goods to the supplier.

Creating a Journal Voucher_CENVAT Credit Adjustment : 

Creating a Journal Voucher_CENVAT Credit Adjustment CENVAT Credit available to a Unit will be adjusted towards the Duty Payable to arrive at the Net Duty Payable to the Government.

Creating a Journal Voucher_CENVAT Credit Adjustment : 

Creating a Journal Voucher_CENVAT Credit Adjustment In Tally.ERP to record the adjustment, CENVAT Duty and Excise Duty accounts are Credited and Debited, respectively to nullify their balances and the net balance in the Excise Duty ledgers will be paid to the Government. CENVAT Credit Adjustment entry is recorded at the end of Every month or Quarter depending on the type of Manufacturer.

Creating a Payment Voucher_GAR 7 Payment : 

Creating a Payment Voucher_GAR 7 Payment

Slide 293: 

Printing G.A.R.–7 Challan

Reports : 

Reports Excise Computation Daily Stock Register PLA Register Form ER 1 Form ER 2 CENVAT Credit Register

Daily Stock Register : 

Daily Stock Register Daily Stock Register is a record of stock maintained on daily basis. A daily stock has to be maintained by every assessee. This report contains details about Description of goods manufactured/produced, opening balance, Quantity manufactured or produced, Total quantity, Quantity removed, Assessable value, Amount of duty payable and details regarding amount of Duty actually paid.

PLA Register : 

PLA Register Personal Ledger Account (PLA) is an current account through which Assessee pays the Duty to the Government. The PLA register is credited when the duty is liable to pay and when the Duty is discharged (by CENVAT Credit /Payment) the PLA register will be debited. The Duty Payable if any will be displayed as Balance. PLA and CENVAT Credit should be used only for payment of excise duty and not for any other payments like rent, fines, penalties etc.

Form ER 1 : 

Form ER 1 Form ER 1 is a monthly return for production, removal of Goods, other relevant particulars and CENVAT Credit. All the Excise Manufacturing (Regular/Large Tax payer) Units should file returns in Form ER 1.

CENVAT Credit Availed : 

CENVAT Credit Availed CENVAT Credit Availed report displays… ? the details of CENVAT credit availed of Principal Input or Capital Goods.

CENVAT Credit Availed : 

CENVAT Credit Availed

Slide 314: 

Please send in your comments/suggestions/feedbacks/queries on this presentation to info@baseenterprise.com

Slide 315: 

Thank you…