Excise tariff rates can be applied at a company level by enabling excise and providing the necessary excise details and duty rate.
Scenario: ABC company is an electronics company dealing with the import of laptops. They import only 12 inch Windows 8 laptops. Let us see how excise tariff can be defined and applied in a scenario like this.
To define tariff rate at the company level
1. Go to Gateway of Tally > F11: Features > F3: Statutory and Taxation.
2. Set the option Enable Excise to Yes.
3. Set the option Set/alter excise tariff details to Yes in the Excise Details screen.
The Excise Registration Details screen appears as shown below:
4. Enter the excise details and define the duty rate.
The Excise Tariff Details screen appears as shown below:
o Press Enter to save.
5. Press Enter to save the Excise Registration details.
● Create a duty ledger with the Type of Duty as CENVAT and the Duty Head as Countervailing Duty.
On selecting the duty ledger created in a transaction, the duty rate is calculated.
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