Excise tariff rates can be applied at a group level by enabling the option to set or alter the excise details excise and making the necessary changes.
Scenario: National Traders is a company dealing with the imports of paints and distempers. They have different duty rates for different types of distempers. Now let us see how defining stock rate at the group level will simplify the process for National Traders.
To define the tariff rate at the stock group level
1. Go to Gateway of Tally > Inventory Info. > Stock Group > Create .
2. Enable the option Set/alter excise details in the Stock group creation screen.
3. Enter the excise details and define the duty rate.
To enter new tariff details or revised excise rate
1. Go to the Excise Tariff Details screen (shown above).
2. Enter the new excise Rate
3. Press Enter . The Tariff Details Applicability screen appears. Enter the Applicable From date.
4. Press Enter to save and return to Excise Registration Details screen.
You can also click L : Details from the Excise Tariff Details screen, enter the Applicable From date and provide the tariff details with revised excise duty.
Create the stock item under the group for which the duty rate has been defined.