Excise in Tally.ERP9 Release 5.0

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• published: 31 Jul 2015
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Excise Excise for Manufacturer The manufacturer excise module in Release 5.0 offers quick, simplified implementation of excise, and guarantees accurate returns. Now, tax classifications for excise can be defined by the user, ensuring seamless statutory compliance at any point in time. The following features make manufacturer’s excise in Tally.ERP 9 simple yet robust: Flexibility to define duty details at different levels. Pass excise transactions using minimal configurations, within minutes. Tax Unit is introduced to create and maintain multiple godowns with corresponding excise details in a single company. Each excise unit can be created as a Tax Unit. Based on the Tax Unit selected in the invoice, the transaction details appear in the tax unit-wise reports ER1, ER3, and ER8. Users can create excise duty classifications as required, and use the duty classifications in required duty ledgers. An invoice can be converted into a transaction with excise implication, at the click of a button. This can be printed as Rule-11 invoice. Sales transactions inclusive of tax can now be recorded without the creation of voucher classes. MRP details for a stock item can be as per period of applicability. MRP details can also be defined state-wise. Based on the invoice date, and the party’s address, the MRP of the stock item will be automatically captured in the transactions. Inter-unit transfer of goods using Material In and Material Out helps in recording transfer of goods with or without duty liability. The facility to record the duty liability or avail CENVAT credit on saving the transaction is now possible. Inter-unit transfer of goods affects the inventory, and excise duty on this transaction reflects in the relevant reports. Vouchers types do not have to be created supplementary invoice. Generation of supplementary invoice for revisions in rate of stock items at one go is now possible. Forms ER1, ER3 and ER8 are supported. These reports are designed to help the user identify errors in the transactions, if any. Errors can be rectified from the form, and exceptions resolved. The changes can be saved, and the filing of returns can be done instantly. Dealer/Importer Excise Tally.ERP 9 offers flexible and intuitive master creation, voucher entry and report generation processes. Masters Tax Unit is introduced to create and maintain multiple godowns with corresponding excise details in a single company. Each unit registered under excise as well as service tax can also be created as a Tax Unit. Based on the Tax Unit selected in the invoice, the transaction details appear in the Tax unit-wise report generated for Form 2 and RG 23D register. The following excise details can be defined in a Tax Unit: Address of the excise unit Registration type ECC number RG23D numbering format Tariff details Rule-11 book numbering Jurisdiction of the unit Tariff rates and excise duty heads can be defined from: Excise Registration Details screen, at company level. Account Group and Stock Group masters, in addition to the information defined at the company level. Ledger and Stock Item masters, in addition to the information defined at the group and company level. Facility is provided to create: Excise Duty Classifications to define excise duty heads and methods of calculation. Excise Classifications to define tariff details and duty heads, and select it in Account Group, Stock Group, Ledger and Stock Item. All the tariff and excise duty heads defined at company level can be overwritten at the: Group level. Ledger or stock item level. Transactions Invoice can be marked as Excise to print in Rule-11 invoice format. Tax Unit can be selected while recording transactions. Transactions recorded in Credit Note (purchase nature) and Debit Note (sales nature) are considered for generating Form 2. Inter-unit transfer of stock is supported through Material In and Material Out vouchers. Reports Form 2 report provides an overview of The total vouchers recorded in a particular quarter. The duty passed on by raising excise sales invoice for clearance in Rule 11 invoice format. Drill-down reports till the last level of voucher entry are provided for each line item of this report to display complete information of vouchers categorized under it. Benefits: Prospective or existing users of Tally.ERP 9 can generate returns by accurate triangulation of data at any given point in time. An overview of total duty passed on during a particular quarter to the business owner is provided. Provides accurate transaction details. The entire report provides all transaction details of accounts, inventory, and excise duty to be passed on to the auditor during the quarter. Return Transaction Book is introduced to display Form 2 report which has been saved. Each time the transactions and masters are modified and saved in Form 2 report, it gets captured here.