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Defining Tariff Rates at the Company Level (Excise for Dealer)

Tariff rates can be defined at the company level.

Consider the scenario of ABC Company, a dealer of optical lenses of different brands.

Here, although different stock items have to be created for each brand, it attracts common rate of duty. Hence, tariff details can be defined at the company level and applied in transactions.

To define tariff and rate of duty 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.

The Excise Registration Details screen appears as shown below:

4.    Enable the option Set/alter excise tariff details in the Excise Registration Details screen to display the Excise Tariff Details screen.

5.    Provide Excise Tariff Details.

     Enter the Tariff name and HSN code.

     Select the Reporting unit of measure and Valuation type.

     Enter the Rate, for example, 12.50%.

6.    Press Enter to accept the Excise Tariff Details screen.

7.    Accept the Excise Registration Details screen.

To enter new tariff details or revised excise rate

1.    Go to the Excise Tariff Details screen (shown above).

2.    Enter the new excise Rate.

3.    Press Enter. The Tariff Details Applicability screen appears. Enter the Applicable From date.

4.    Press Enter to save and return to Excise Registration Details screen.

You can also click L: Details from the Excise Tariff Details screen, enter the Applicable From date and provide the tariff details with revised excise duty.

Once the tariff and duty details are defined at the company level, it need not be defined in any other master. However, the option Is Excise Applicable should be set to Applicable in Stock Item master.