Duty ledgers are used to record the value of excise duty charged in a transaction. The duty ledger can be created with rate of duty or without.
To create a CENVAT duty ledger
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create .
2. Enter the Name of the duty ledger.
3. Select Duties and Taxes from the List of Groups in the field Under .
4. Select the Type of duty/tax .
5. Select the required from the List of Duty Heads . All duty masters created will be displayed in the List of Duty Heads .
6. Enable the option Maintain balances bill-by-bill , if required.
7. Enter the Default credit period , if required.
8. Enter the Percentage of Calculation if the duty ledger is created for a specific rate of duty. To use it as a common duty ledger, enter the percentage as zero or leave it blank.
9. Select the required Rounding Method .
10. Press Enter .
The completed duty ledger creation screen appears as shown below:
11. Press Enter to save.