After migrating data, as pre-requisites to adapt to the modifications in Tally.ERP 9 Release 5.0, few configurations have to be made.
To define excise duty head classification
1. Go to Gateway of Tally > Accounts Info. > Statutory Info. > Excise Duty Classifications .
2. Select the Duty Code from the List of Excise Duty Codes .
3. Select the Calculation Method as per requirement.
4. Accept the Excise Duty Classification Alteration screen.
The tax type of the duty ledgers used in transactions should be set to CENVAT.
To configure CENVAT duty ledgers
1. Go to Gateway of Tally > Accounts Info. > Ledger > Alter .
2. Select the duty ledger.
3. Select the Type of Duty/Tax as CENVAT .
4. Select the applicable Duty Head .
5. Accept the Ledger Alteration screen.
To configure duty ledger grouped under current assets
1. Go to Gateway of Tally > Accounts Info. > Ledger > Alter .
2. Select the duty ledger.
3. Click F12: Configure and set the option Allow creation of tax ledgers under other groups to Yes .
4. Press Ctrl+A .
5. Set the option Behave as Duties & Taxes to Yes .
6. Select the Type of Duty/Tax as CENVAT .
7. Select the applicable Duty Head .
8. Press Enter .
To enable duty ledger for appropriation
1. Go to Gateway of Tally > Accounts Info.
2. Select the CENVAT (Basic Excise Duty) ledger.
3. Click F12: Configure .
4. Set the option Allow method of appropriation (used in purchase invoice) to Yes .
5. Press Ctrl+A .
6. Set the option Appropriate tax values in purchase invoice to Yes .
7. Press Enter .
To define MRP for stock item
1. Go to Gateway of Tally > Inventory Info. > Stock Item > Alter .
2. Click F12: Configure .
3. Set the option MRP/Marginal for stock items .
4. Press Ctrl+A to accept.
5. Enter the MRP Rate in MRP Details screen.
6. Press Enter .
'Post Migration Pre-requisites - Manufacturer Excise' has been shared with
