Valid until Release 5.5.8
Sales return of excisable goods are recorded using Credit Note voucher. The transaction is linked to the original sales invoice to ensure excise duty liability is updated.
Lotus Opticals returned 10 nos. of Oval Eyeglasses T1234 to ABC Company because they were damaged. From the damaged goods, 8 nos. were taken as stock. 2 nos. were taken back into the inventory of ABC Company.
In this scenario, the number of oval eyeglasses T1234 taken into inventory, and the number taken as scrap can be tracked.
To configure tracking in credit notes
1. Click F12: Configure in a sales transaction.
2. Enable the option Track Excise Credit Note .
3. Press Ctrl+A to save the configuration.
To record a credit note and track details
1. Go to Gateway of Tally > Accounting Vouchers > Press Ctrl+F8: Credit Not e.
2. Press F12: Configure .
3. Enable the option Allow selection of Tax Unit for Credit Note/Debit Note .
4. Select ABC Company as the Tax Unit .
5. Select the Party's A/c Name .
6. Enter the tracking number for this transaction in the Receipt Details section.
7. Select Manufacturer as the Nature of Sales Return in the Party Details screen .
8. Enter Receipt Details , Order Details , and Buyer's Details in the Party Details screen.
9. Press Enter .
10. Select the Sales ledger.
11. Select the stock item. The Stock Item Allocations screen appears.
o Enter the Invoice Date .
o Select the Invoice No. (excise serial number) from the list of Excise Sales Vouchers .
o Enter the Reason for Rejection .
o Select the tracking number from the List of Tracking Numbers .
o Enter the transaction details
o Enter the Usable Quantity as 2 and the Scrap Quantity as 8 .
Note: Only the usable quantity can be taken for re-work or re-processing and also CENVAT credit is eligible only on the usable quantity.
The completed item allocations screen appears as shown below:
o Press Enter .
12. Select the excise duty ledger.
The completed credit note appears as shown below:
13. Press Enter to save.
To record the sale of returned goods
1. Go to Gateway of Tally > Accounting Vouchers > F8: Sales .
2. Click F12: Configure .
3. Enable the options Allow modification of nature of removal and Track Excise Credit Note
4. Select ABC Company as the Tax Unit .
5. Select the Party's A/c Name .
6. Select the Nature of Removal as Removal as Such .
7. Select the stock item.
8. Select the Excise Credit Note No . from the List of Credit Note Vouchers .
9. Press Enter to go to the sales invoice.
10. Select the duty ledger in the sales invoice.
The completed sales invoice appears as shown below:
11. Press Enter to save.
To record the stock transfer
1. Go to Gateway of Tally > Inventory Vouchers > F7 : Stock Journal .
2. Click F12: Configure .
3. Enable the option Track Excise Credit Note .
4. Select ABC Company as the Tax Unit .
5. Select the name of the stock item that was returned.
6. Select the source godown.
7. Press Enter .
8. Select the Excise Credit Note No .
9. Enter the Quantity .
10. Press Enter .
11. Enter the stock item name, destination and amount.
12. Press Enter .
Details of the goods rejected using excise credit note will be captured in the Rule 16 Register.
To view the Rule 16 Register
1. Go to Gateway of Tally > Display > Reports > Statutory Reports > Excise Reports > Manufacturer > Excise Registers > Rule 16 Register .
2. Select the Stock Item Name .
3. Enter the period for which the report has to be displayed.
