Type search words and press enter
GSTR-1 upload is now as easy as 1-2-3! Upload your returns on the GST portal right here from TallyPrime. Don't worry about opening the portal or doing any other manual activity.
https://help.tallysolutions.com/docs/te9rel51/Tax_India/Excise_Mfg/Adjustment_Towards_Removal_As_Such_%28Capital_Goods%29.htm

Adjustment Towards Removal As Such (Capital Goods)

Capital goods for which CENVAT credit has been availed is removed as such, then the clearance of such goods will attract duty. The duty being charged on this clearance can be adjusted with the CENVAT credit amount available.

To record an adjustment towards removal as such of capital goods

  1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal.

  2. Click J: Stat Adjustment.

  3. Enter the Type of Duty/Tax, Tax Unit, and Nature of Adjustment in the Stat Adjustment Details screen.

  1. Press Enter.

  2. Press Enter to accept the Tax Unit.

  3. Debit the required duty ledger.

  4. Credit the required duty ledger.

  5. Enter the Narration, if required.

  6. Press Enter.

The completed adjustment entry is as shown below:

  1. Press Enter.

Viewing in Return Forms

The adjustment entry recorded using the flag Adjustment Towards Removal As Such (Capital Goods)  is displayed under Removal As Such.

The detailed view of the return form appears as shown below:

Press Enter on Removal As Such to view the CENVAT Credit Utilised report.

 

Mail this article