After migrating data, as pre-requisites to adapt to the enhancements provided in Tally.ERP 9 Release 5.0, few following configurations have to be made.
Duty code and calculation method must be defined for the Excise Duty Classification.
To define Excise Duty Head Classification
1. Go to Gateway of Tally > Accounts Info. > Statutory Info. > Excise Duty Classifications > Alter.
2. Select the Excise Duty Classification.
3. Select the Duty code from the List of Excise Duty Codes.
4. Select the Calculation method as per requirement.
5. Accept the Excise Duty Classifications Alteration screen.
If duty ledgers are used in transactions, then the tax type of these ledgers must be set to CENVAT.
To set CENVAT as the tax type for ledgers grouped under Duties & Taxes
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 set CENVAT as the tax type for ledgers 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 and accept the Master Configuration screen.
4. Set the option Behave as Duties & Taxes to Yes.
5. Select the Type of duty/tax as CENVAT.
6. Select the applicable Duty Head.
7. Accept the Ledger Alteration screen.
To enable duty ledger for appropriation
1. Go to Gateway of Tally > Accounts Info. > Ledger > Alter.
2. Select the duty ledger predefined with the following settings:
● Grouped under Duties & Taxes or Current Assets.
● Type of duty/tax set to CENVAT.
● Duty Head set to Basic Excise Duty or the relevant duty head.
3. Click F12: Configure and set the option Allow method of appropriation (used in purchase invoice) to Yes and accept the Master Configuration screen.
4. Set the option Appropriate tax values in purchase invoice to Yes.
5. Accept the Ledger Alteration screen.