When a portion of goods is retained by the manufacturer for self-consumption (for example: testing), the goods are treated by the excise department in the same way as goods that are sold to a third party.
Therefore, for goods being retained, you need to:
1. Record a sales invoice for self.
2. Record a payment voucher to pay duty for the retained goods.
To record a sales invoice for self
1. Go to Gateway of Tally > Accounting Vouchers > F8: Sales .
2. Enter Ref. number.
3. Select the company's name in the field Party's A/c Name .
Note: Create a party ledger for the company under Sundry Debtors .
4. Select the Sales Ledger .
5. Select the Name of Item from the List of Stock Items .
6. Select the duty ledger.
The completed sales invoice screen appears as shown below:
7. Press Enter to save.
To record a payment voucher to pay duty for the retained goods
1. Go to Gateway of Tally > Accounting Vouchers > F5: Payment .
2. Select Cash as the Account .
3. Select the Customs Duty ledger.
4. Enter the Amount .
The completed payment voucher screen appears as shown below:
5. Press Enter to save.