Type search words and press enter
"Use Edit Log for transactions/masters, and digital signature for invoices/reports with Release 2.1. Download NOW!"

Creating Stock Item (Excise for Dealer)

You can create a stock item by entering the excise details.

To create a stock item

1.    Go to Gateway of Tally > Inventory Info. > Stock Items > Create.

2.    Enter the Name of the stock item.

3.    Select the stock group or set it to Primary. If the stock item has to be grouped Under a stock group for which tariff details are defined, select the same. Else, group it under Primary.

4.    Select the unit of measure in the Units option.

5.    Set the options Is Excise Applicable to Applicable.

6.    Enable the option Set/Alter Excise Details to Yes.

7.    Provide the required details in Excise Tariff Details screen.

8.    Accept the Excise Tariff Details screen.

9.    Enter the Conversion Factor to convert the unit of measure defined in the Units field to the Reporting UOM as provided by the department.

10.  Set the options VAT Applicable and Set/alter VAT details as per requirement. Click here for detailed procedure on defining VAT details in stock item.

11.  Accept the Stock Item Creation screen.