You can create excise duty classifications as per statutory requirements.
To create an Excise Duty Classification,
1. Go to Gateway of Tally > Accounts Info. > Statutory Info. > Excise Duty Classifications > Create.
2. Enter the Name of the duty classification.
3. Select the applicable Duty code from the List of Excise Duty Codes.
4. Select the Calculation method from the List of Excise Duty Classifications.
The completed Excise Duty Classifications Creation screen appears as shown below:
5. Press Enter to save.
You can define the method of calculation based on the date of applicability, if required.
To define parameters based on the date of applicability
1. Click L: Details.
2. Enter the date from which the defined parameters are applicable from.
3. Press Enter.
4. Select the Excise Duty Classification, as required.
5. Press Enter.
6. Define the duty calculation method for the next period.
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