Defining Tariff Rates at Company Level (Excise for Importer)

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.

Creating Duty Ledger

●      Create a duty ledger with the Type of Duty as CENVAT and the Duty Head as Countervailing Duty.

Using Defined Duty Rate in a Transaction

On selecting the duty ledger created in a transaction, the duty rate is calculated.