Cenvat payables

Hello friends

Please suggest me solution for Centvat payable as central budget announced Rs. 30/- per metric ton as addition to the cenvat payable from march 1st 2011. for mini cement plant

and how to pass this entry in tally

Replies (3)

 

suppose sale of 1metric ton

 

ZYZ Co. A/c Dr. 50030.00

Sales A/c 50000.00

Cenvat A/c Cr. 30.00

we have to pass it in invoice mode

in sales

party name

sales ledger

vat class

and the entry will be

cement                      .75MT      4142.89MT (Rate)           3107.17(amount

Centvat payable @ 10%                                                         310.72

 

And for cenvat payable we have to add Rs 30
 

 

You have to charges rs. 30 on per metric ton instead of cenvat payable 10 %

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