In sales invoice, excise duty gets incorrectly calculated if the duty ledger is apportioned based on value.
In sales invoice, the excise duty amount gets doubled and displays incorrect VAT/CST amount when the excise duty ledger grouped under Duties & Taxes is created with the following settings:
● Type of Duty/Tax is set to Others.
● Include in assessable value calculation for is set to VAT.
● Method of Calculation is set to Based on Value.
To correct miscalculations in VAT or CST value
1. Back up your company data.
2. Go to Gateway of Tally > Accounts Info. > Ledger > Create/Alter.
3. Select the excise duty ledger.
4. Set the Type of duty/tax as Others.
5. Enable Set/Alter Statutory details? The Statutory Details for Excise Creation (Secondary) screen appears.
o Set the option Include in assessable value calculation for to Not Applicable.
o Press Enter to save.
6. Open the same excise duty ledger in alteration mode.
7. Set the Type of duty/tax as CENVAT.
8. Set the Duty Head as Basic Excise Duty.
9. Press Ctrl+A to accept.
Now VAT/CST values will be correctly calculated and displayed in the Tax Analysis report.