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Recording Excise Adjustments (Excise for Manufacturer)

Duty adjustments can be done using journal vouchers.

To adjust duty using journal vouchers

1. Gateway of Tally > Vouchers > press F7 (Journal).
   Alternatively, press Alt+G (Go To) >type or select Create Voucher > press F7 (Journal).
2. Press Alt+J (Stat Adjustment).
3. Enter Excise as the Type of Duty/ Tax.
4. Select the required Tax Unit from the List of Tax Units.
5. Select the required Excise Adjustment flag to be used in the journal voucher. The Stat Adjustment Details screen appears as below:
6. Select the ledger to be debited and the ledger to be credited, and the amount in the respective fields.
7. Press Enter.

To view more adjustment flags

1. Press F12 (Configure).
2. Enable the option Allow All Adjustment Types in the Stat Adjustment screen.
3. Press Enter.

Adjustment towards Other Payments (Arrears)

This flag is used to utilize CENVAT credit towards payment of arrears.

To use CENVAT credit towards payment of arrears

1. Debit the ledger grouped under Duties & Taxes, Current Liabilities or Current Asset.
2. Credit the ledger grouped under Duties & Taxes, Current Liabilities or Current Asset.
3. Select the Type of Payment. Select,
   • Rule 8: If duty amount payable pertaining to any of the previous returns is paid with the credit of the current month then such credit payments are treated as arrears under Rule 8.
   • Section 11 A: The duty pertaining to previous returns paid on receipt of a show-cause notice (Disciplinary Action) from the department i.e., any discrepancies identified by the department, then the value which is paid will be represented under this head.
   • Section 11A 2B – Supplementary Invoice (Where the original invoice belongs to previous returns) and disallowed CENVAT Credit.
   • Section 11A 2B – If there are any discrepancies identified and paid voluntarily by the assessee,  the same will be represented under this head.
   • Section 11D – If the duty was collected at a lower rate than actual in the previous returns, then the difference amount will be collected with the current period and represented under this head.
4. Enter the Source Document No. and Source Document Date.
   The Type of Payment screen appears as shown below:
5. Press Enter.
6. Enter Narration, if required.
7. Press Enter to save.