The computation section in Form ER1 report gives the breakup of duty payable, and cenvat credit available for given period.
The assessable value and duty value of transactions recorded by selecting the following Natures of Removal appears here.
● Home Clearance with nature of removal as Captive Consumption, Domestic, Special Rate and Exempt.
● Exports/LUT
● Export/Rebate
● SEZ/LUT
● SEZ /Bond
● SEZ/Rebate
To display duty break-up
1. Press Spacebar to select the required Nature of Removal .
2. Click F7: Duty Breakup .
The Duty Payable report appears as shown below:
This displays the total of CENVAT availed under the following duty heads on recording excise purchase, purchase supplementary invoice, excise sales returns, excise debit note and journal vouchers using CENVAT availment flags:
● CENVAT
● AED_TTA
● NCCD
● ADE_LVD_CL_85
● ACD_LVD_CL_75
● Education Cess
● Secondary Education Cess
● Service Tax
● Education Cess on Service Tax
● Secondary Education Cess on Service Tax
To display the CENVAT Credit Availed report
1. Press Enter on CENVAT Credit Availed in Form ER1 .
2. Click F7: Show Breakup .
The CENVAT Credit Availed report appears as below:
In this report, the following categories of CENVAT availment are displayed with the corresponding duty value:
Opening Balance : The opening balance shown here is either the,
● Balance CENVAT Credit of the previous return period
Or
● Opening balance entered in masters or recorded as opening balance transaction in a newly created data.
Credit on Inputs : This displays the total CENVAT credit availed
● Using excise flags in excise debit note and journal
● In excise purchase transaction.
The CENVAT amount availed for each duty type will be displayed in separate rows for the following Nature of Purchases:
● Manufacturer
● First Stage Dealer/ Second Stage Dealer
● Importer
Credit on Capital Goods : This displays the total CENVAT credit availed,
● Using excise flags in excise debit note and journal
● In excise purchase transaction.
● The CENVAT amount availed for each duty type will be displayed in separate rows for the following Nature of Purchases:
o Manufacturer/First Stage Dealer/ Second Stage Dealer
o Importer
Credit on Tax on Services : This displays the total of credit availed by recording adjustment entries with the flag Credit on Tax on Services. – to be supported
Credit under Rule 12BB : This displays the total of credit availed by recording adjustment entries with the flag Adjustment under 12BB - Credit.
Credit under Rule 10A : This displays the total of credit availed by recording adjustment entries with the flag Credit under Rule 10A.
To view the duty-wise breakup of each duty type
● Click F7: Show Break-up .
To hide the duty-wise breakup details
● Click F7: Hide Break-up .
This displays the sum total of CENVAT credit utilized is displayed here with breakup for the following:
Payment of Duty on Goods :
Other Adjustments : Duty values of journal voucher vouchers recorded for CENVAT adjustments made towards Rule 6 Payments , Inter Unit Transfer under Rule 10A and Other Payments are displayed here.
The following details are displayed in this report:
Payment of Duty on Goods
The details displayed are:
● Duty values of CENVAT adjustments and clearances recorded with the Removal as Such as the Nature of Removal
o Principal inputs which are removed as purchase returns or sales
o Finished goods received as sales returns are removed without making changes to the goods from the excise unit
● Duty value of journal voucher recorded using the flag CENVAT Adjustment is displayed here.
Rule 6 Payments : The values of journal vouchers recorded using the flag Adjustment under Rules 6 for reversing the CENVAT credit availed on principal inputs which were used in manufacturing the exempted goods are displayed here.
Tax on Services : This displays the entry recorded to transfer the credit from Excise Books to Service Tax books
Inter Unit Transfer under Rule 10A : The values of journal vouchers recorded using the flag ADC_LVD_CT_75 to transfer credit from one excise unit to another are displayed here.
Other Payments : The values of journal vouchers recorded using the flag Adjustment towards Other Payments are displayed here.
To view the duty-wise breakup of each duty type
● Click F7: Show Break-up button.
To hide the duty-wise breakup details
● Click F7: Hide Break-up .