Any existing CENVAT credit can be used to adjust the miscellaneous payment.
To record an adjustment entry to adjust the current CENVAT liability
1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .
2. Click J : Stat Adjustment .
o Enter the Type of Duty/Tax , Tax Unit , and Nature of Adjustment in the Stat Adjustment Details screen as shown below:
The Tax Unit selected in the Stat Adjustment Details screen will be displayed here. Press Spacebar to change the Tax Unit .
o Press Enter .
3. Debit the Excise duty ledger with CENVAT credit.
4. Credit the liability ledger.
5. Enter the Source Document No . and Date in the Type of Payment screen.
6. Press Enter .
7. Enter the Narration , if required.
The journal voucher appears as shown below:
8. Press Enter to save.
The adjustment entry recorded using the flag Adjustment Towards Miscellaneous Payments (Arrears) is displayed under Other Adjustments .
'Recording Adjustment Towards Miscellaneous Payment (Excise for Manufacturer)' has been shared with
