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Creating Duty Ledgers (Excise for Manufacturer)

Duty ledgers are used to record the value of excise duty charged in a transaction. The duty ledger can be created with rate of duty or without.

To create a CENVAT duty ledger

1.    Go to Gateway of Tally > Accounts Info. > Ledgers > Create.

2.    Enter the Name of the duty ledger.

3.    Select Duties and Taxes from the List of Groups in the field Under.

4.    Select the Type of duty/tax.

5.    Select the required Duty Head from the List of Duty Heads. All duty masters created will be displayed in the List of Duty Heads.

6.    Enable the option Maintain balances bill-by-bill, if required.

7.    Enter the Default credit period, if required.

8.    Enter the Percentage of Calculation if the duty ledger is created for a specific rate of duty. To use it as a common duty ledger, enter the percentage as zero or leave it blank.

9.    Select the required Rounding Method.

10.  Press Enter.

The completed duty ledger creation screen appears as shown below:

11.  Press Enter to save.