Excise details such as tariff, non-dutiable classifications, MRP and so on can be configured at company level or as separate masters.
To set excise/tariff details
1. Enter Tariff name.
2. Enter HSN code.
3. Select the Reporting unit of measure.
4. The cursor skips the field Valuation type. To modify it, click F12: Configure and enable the option Allow Modification of Valuation Type.
5. Enter the Rate of duty.
6. Press Enter to save.
To create non-dutiable classifications
1. Go to Gateway of Tally > Inventory Info. > Excise Classification > Create.
2. Enter Tariff name.
3. Enter HSN code.
4. Select the Reporting unit of measure.
5. Select the Type of tariff as Non-Dutiable.
6. Press Enter to save.
You can record excise details based on the date of applicability for different periods, if required.
To modify valuation types when creating a dutiable tariff
1. Press F12: Configure
2. Enable the option Allow Modification of Valuation Type?
3. Press Ctrl+A to accept.
4. Select the Valuation Type, as required.
1. Press F12: Configure.
2. Enable the option Allow tax based on MRP?.
3. Press Ctrl+A to accept.
4. Set the option Calculate Duty on MRP in the Excise classification creation screen.