In Tally.ERP 9, CENVAT Credit on purchases from Excise Dealers can be availed -
While recording the purchase transaction (in the same invoice)
Later by recording a separate Debit Note: In this case first purchase invoice will be recorded without availing credit and later a separate Debit Note will be recorded to avail the CENVAT credit.
In Tally.ERP 9 Release 3.0, In CENVAT Availing Debit Note, a new option Copy Details from previous Ledger(s) has been provided in Excise Duty Allocation screen to copy Invoice Number/ Bill of entry No. & Date, Party Name, Name of Item, Quantity, and Assessable Value of a CENVAT Ledger to other the CENVAT ledgers selected in the voucher. This option helps the users in copying the duty details of previous ledger to subsequent ledger instead of entering the details manually.
Example: On 2-7-2008 ABC Company received the bill for Rs. 14,610 from Shubh distributors for the supply of 100 Water Containers – 20 ltrs @ Rs. 140.48 per container.
Against this purchase of 100 water containers, ABC Company can avail CENVAT Credit on Rs. 10,000 (@ Rs. 100 per Container i.e., on Assessable Value as per manufacturer’s invoice).
Go to Gateway of Tally > Accounts Info. > Ledgers > Create
In the Name field enter the name of the ledger. e.g. Shubh Distributors
In Under field select Sundry Creditors
Enter the Default Credit Period if any
Enter the Mailing Details and Tax Information
Enable Set/Alter Excise Details to Yes
Enter the Excise Details as shown
Press Enter to save
Go to Gateway of Tally > Accounting Vouchers > F9: Purchase
In Voucher Type sub form select Excise – Purchases as the voucher type.
Ensure that the Purchase Voucher is in Item Invoice Mode.
Enter the Date as 2-7-2008
In Supplier Invoice No. field enter the Invoice No. as SD/4578.
In Party’s A/c Name field select the supplier i.e. Shubh Distributors from the List of Ledger Accounts.
In Nature of Purchase field First Stage Dealer is displayed automatically.
In Purchase Ledger field select the ledger Purchase of Raw Materials from List of Ledger Accounts.
VAT/Tax Class field automatically gets updated with the VAT/Tax class as selected in the purchase ledger, which can be changed.
In Name of Item field select the Stock Item i.e. Water Container – 20 Ltrs
In Quantity field enter the quantity as 100
In Rate field enter the rate as Rs. 124 [Actual purchase rate (140) – CENVAT Credit (16.48)].
Amount will be displayed automatically
Select Basic Excise Duty (CENVAT) ledger to view the Duty Details screen
Note: To Avail the CENVAT Credit user needs to select CENVAT Type of Duty ledgers
In Excise Duty Allocation screen
In the fields Type of Ref and Name field the details will be defaulted automatically
In the Name field select the Item – Water Container – 20ltrs
In the Assessable Value field enter Rs. 10,000 (Assessable Value as per the Manufacturer’s invoice)
In the Amount field the Duty Amount will be calculated and displayed based on the assessable value entered.
Select Education Cess (CENVAT) ledger to view the Duty Details screen
The Duty Details screen appears as shown
Note: For the Education Cess (CENVAT) the Basic Excsie Duty(CENVAT) amount is defaulted as the assessable value.
Select Secondary Education Cess (CENVAT) ledger to view the Duty Details screen. In the Duty Details screen accept the default details.
Select Input VAT @ 4% ledger. Amount will be displayed automatically
Set Show Statutory Details to Yes to view statutory details
Note: To view the calculation details press Alt+F1 or click on F1: Detailed button in the buttons bar.
In the Bill-wise Details screen accept the default details
Enter the transaction details in the Narration field
Press Enter to save.
CENVAT credit availed in the purchase voucher will be displayed in the Credit Availed report.
To view the Credit Availed report
Go to Gateway of Tally > Display > Statutory Reports > Excise Reports > Manufacturer > CENVAT Registers > Credit Availed
Go to Gateway of Tally > Accounts Info. > Voucher Types > Alter
From the List of Voucher Types select Debit Note
In the Debit Note Voucher tab down to Name of Class field
In the Name of Class enter the class name as CENVAT Availing
In the Voucher Type Class screen set the option Use Class for Excise/CENVAT Adjustments to Yes
Press Enter to save Voucher Type Class screen and Voucher Type Alteration screen.
Go to Gateway of Tally > Accounting Vouchers > F9: Purchase
In Voucher Type sub form select Excise – Purchases as the voucher type.
Ensure that the Purchase Voucher is in Item Invoice Mode.
Enter the Date as 2-7-2008
In Supplier Invoice No. field enter the Invoice No. as SD/4578.
In Party’s A/c Name field select the supplier i.e. Shubh Distributors from the List of Ledger Accounts.
In Nature of Purchase field First Stage Dealer is displayed automatically.
In Purchase Ledger field select the ledger Purchase of Raw Materials from List of Ledger Accounts.
VAT/Tax Class field automatically gets updated with the VAT/Tax class as selected in the purchase ledger, which can be changed.
In Name of Item field select the Stock Item i.e. Water Container – 20 Ltrs
In Quantity field enter the quantity as 100
In Rate field enter the rate as Rs. 140.48
Amount will be displayed automatically
Select Input VAT @ 4% ledger. Amount will be displayed automatically
Set Show Statutory Details to Yes to view statutory details
In the Bill-wise Details screen accept the default details
Enter the Narration, if any
Press Enter to save.
Set Up:
In F11: Features (F1: Accounting Features)
Ensure the option Use Debit/Credit Notes is set to Yes
Set Use Invoice mode for Debit Notes is set to Yes
Go to Gateway of Tally > Accounting Vouchers > Ctrl + F9: Debit Note
In Change Voucher Type screen in Class field select CENVAT Availing from the Voucher Class List
In Used For field CENVAT Availing will be displayed automatically
In Excise Unit field select ABC Company
In Nature of Purchase field select First Stage Dealer
In Debit field select Basic Excise Duty (CENVAT) to view Excise Duty Allocation screen
In Excise Duty Allocation screen
In Type of Ref select New Ref
In Invoice No./Bill of Entry No. & Date field enter the reference name. Here enter the reference name used in the purchase voucher
In Party Name field select Shubh Distributors from the List of Ledger Accounts
In the Name of Item field select Water Container – 20 Ltrs
In Quantity field enter 100
In the Assessable Value field enter Rs. 10,000 (i.e. the manufacturer’s sales value)
In the Rate field the rate of duty i.e. 16 % defined in the ledger will be defaulted (if the rate of duty is not defined during ledger creation enter the applicable rate of duty)
The duty amount will be calculated and displayed in the Amount field
In Debit field select Education Cess (CENVAT) to view Excise Duty Allocation screen
In Excise Duty Allocation screen
Set the option Copy Details from Previous Duty Ledger (s) to Yes and press enter.
The duty details like - Invoice Number/Bill of Entry No.& Date, Party Name, Name of Item, Quantity & Assessable Value (to calculate the Education Cess) & Cess Amount will be calculated displayed automatically.
Note: If you does not want to copy the details of previous ledger retain No to the option Copy Details from Previous Duty Ledger(s) & manually enter the CENVAT credit details for the ledger selected.
The completed Duty Details for Education Cess (CENVAT) will be displayed as shown
Note: The option Copy Details from Previous Duty Ledger (s) will be displayed only during creation of voucher. This option will not be displayed in Voucher Alteration mode.
Similarly, in Debit field select Secondary Education Cess (CENVAT) to view Excise Duty Allocation screen
In Excise Duty Allocation screen
Set the option Copy Details from Previous Duty Ledger (s) to Yes and press enter.
The duty details like - Invoice Number/Bill of Entry No.& Date, Party Name, Name of Item, Quantity & Assessable Value (to calculate the Education Cess) & Cess Amount will be calculated displayed automatically.
Note: If you does not want to copy the details of previous ledger retain No to the option Copy Details from Previous Duty Ledger(s) & manually enter the CENVAT credit details for the ledger selected.
The completed Duty Details for Secondary Education Cess (CENVAT) will be displayed as shown
In the Credit field select Purchase of Raw Materials ledger to view Inventory Allocation screen
In VAT/Tax Class screen select Not Applicable
In the Inventory Allocation screen
In Name of Item field select the stock item Water Container – 20 Ltrs
In the Amount column enter the total amount (of Basic Excise Duty, Education Cess and Secondary Education Cess) Rs. 1648
Enter Narration if any
Press Enter to save
Note: Similarly you can record purchases from Second Stage Dealers and Importers
CENVAT Credit availed in the purchase voucher will be displayed in the Credit Availed report.
To view the Credit Availed report
Go to Gateway of Tally > Display > Statutory Reports > Excise Reports > Manufacturer > CENVAT Registers > Credit Availed
