How to do excise entries for MFG in Tally9

2706 views 5 replies

Aditya Duggal

Director

42 Points Joined October 2008

Hi,

I am having a peculiar problem in my accounting. Recently my company registered for Excise and now is charging excise on all manufactured/sold goods as we are a manufacturing company.

Now I have setup 3 diff excise duties namely BED,ECESS,SAHCESS.
While entering the sale voucher, I do the following:
1. Enter as Invoice
2. Select Sales ledger as SALES CST 2% (since our major sales are outside Haryana)
3. Enter name of item, qty and price
4. Select BED @ 14%,ECESS,SAHCESS
5. Now when I enter CST Tax head for 2% the tax is calculated on the sale amount w/o excise but not on the amt with excise.

Example: if sale value is say 1000 then BED-140, ECESS-2.8, SAHCESS-1.40, CST @ 2% is calculated as 20 and not as 22.88.

But if I do the vat entry then the tax is calculated as 22.88

Also when I am preparing the sale tax reports the sale amount for CST should be 1144.2 but it shows as 1000 only for CST but for VAT reports it is 1144.2

Please let me know where am I going wrong.

Replies (5)

L KANAGARAJ

Assistant Manager-Finance

615 Points Joined June 2008

Sir,

As per your point No.2. Select Sales ledger as Sales CST 2%. O.K and it should under the group of Net Sales or Sales A/c.-------->Statutory Information------->used in VAT returns-------> YES and Ctrl. A or enter.

As per point No.5.

Please enter like

Ledger Name: CST 2% payable

Under : Duties & Taxes -------> C.Liabilities

Type of Duty/ Tax: select CST

VAT/ Tax Class- Select as Interstate Sales

Then

Percentage of Calculation: Give as 2%

Method of Calculation: On Total Sales.

o.k.

Try it. you will satisfied.

But as per your Sales Tax Report The sale amount should be Basic value. i.e. Rs.1000.

But Assessable value ( Basic value+ ED+Cess) = Rs. 1,144.2 o.k.

Thanx

Aditya Duggal

Director

42 Points Joined October 2008

Thank you Mr. Kangaraj for your reply but this is what I have done as per your instructions but the CST is getting calculated on 1000 Rs only and not on 1144.2 Rs. which is wrong.

Also it is showing the sale as Rs.1000 in sale tax reports which is again not correct because sale for Sale tax purpose is 1144.2 and not 1000.

L KANAGARAJ

Assistant Manager-Finance

615 Points Joined June 2008

Sir,

Please check whether the Sales Account ( Group) configured

Go to A/cs info---> Group---->alter---->Sales Account ----->

Used for Calculation : Give as YES.

otherwise inform me elkanagu @ yahoo.co.in

subramanya

Professional

907 Points Joined March 2008

Originally posted by :Aditya Duggal
"	Hi, I am having a peculiar problem in my accounting. Recently my company registered for Excise and now is charging excise on all manufactured/sold goods as we are a manufacturing company. Now I have setup 3 diff excise duties namely BED,ECESS,SAHCESS. While entering the sale voucher, I do the following: 1. Enter as Invoice 2. Select Sales ledger as SALES CST 2% (since our major sales are outside Haryana) 3. Enter name of item, qty and price 4. Select BED @ 14%,ECESS,SAHCESS 5. Now when I enter CST Tax head for 2% the tax is calculated on the sale amount w/o excise but not on the amt with excise. Example: if sale value is say 1000 then BED-140, ECESS-2.8, SAHCESS-1.40, CST @ 2% is calculated as 20 and not as 22.88. But if I do the vat entry then the tax is calculated as 22.88 Also when I am preparing the sale tax reports the sale amount for CST should be 1144.2 but it shows as 1000 only for CST but for VAT reports it is 1144.2 Please let me know where am I going wrong.	"