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Recording Adjustment Towards Removal As Such (Capital Goods) (Excise for Manufacturer)

Capital goods for which CENVAT credit has been availed is removed as such, then the clearance of such goods will attract duty. The duty being charged on this clearance can be adjusted with the CENVAT credit amount available.

To record an adjustment towards removal as such of capital goods

  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 the Type of Duty/Tax, Tax Unit, and Nature of Adjustment in the Stat Adjustment Details screen.
  4. Press Enter.
  5. Press Enter to accept the Tax Unit.
    The Tax Unit selected in the Stat Adjustment Details screen will be displayed here. Press Spacebar to change the Tax Unit.
  6. Debit the required duty ledger.
  7. Credit the required duty ledger.
  8. Enter the Narration, if required.
  9. Press Enter. The completed adjustment entry is as shown below:
  10. Press Enter to save.


Viewing in Return Forms

The adjustment entry recorded using the flag Adjustment Towards Removal As Such (Capital Goods)  is displayed under Removal As Such.

The detailed view of the return form appears as shown below:

Press Enter on Removal As Such to view the CENVAT Credit Utilised report.

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