Accounting of excise

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 November 2011 Sir,
I want to know about the procedure of excise accounting with full information of industries type.......................

Thanking You...

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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21 November 2011 Excise duty accounting entries
1. Full Treatment of Excise Duty in Tally
2. Types of Excise Duty
Main Excise Duty
Basic Excise Duty
Education Cess
Secondary Education Cess

3. Enable Excise Duty in Tally

4. Ledger Accounts Creation

5. Sales under sale account: Enable Vat on output.

Purchase under purchase account : Enable VAT on input

Input VAT under duties and taxes

Output VAT under duties and taxes

Supplier’s account under sundry creditor with excise detail
6. Inventory ledger Creation

Gateway of tally >> Inventory info >>

Tariff classification

Write finished goods = suppose Computer
7. Creation of Voucher Type

8. Voucher Entry of Purchase with Excise duty
Gateway of Tally >> purchase F9 >> Excise- Purchase voucher

more info:

https://www.caclubindia.com/forum/accounting-entry-for-excise-amp-sales-tax-65183.asp

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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21 November 2011 also read the link:

https://www.caclubindia.com/share_files/export-import-accounting-entries-37679.asp

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