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Accounting for Retained Goods (Excise for Manufacturer)

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.

 

Record a Sales Invoice for Self

  1. Go to Gateway of Tally > Vouchers > press F8 (Sales).
    Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales).
  2. Press Ctrl+H (Change Mode) > select Excise Invoice.
  3. Enter Ref. number.
  4. Select the company’s name in the field Party’s A/c Name.
    Note: Create a party ledger for the company under Sundry Debtors.
  5. Select the Sales Ledger.
  6. Select the Name of Item from the List of Stock Items.
  7. Select the duty ledger. The completed sales invoice screen appears as shown below:
  8. Press Enter to save.

 

Record a Payment Voucher to Pay Duty for the Retained Goods

  1. Gateway of Tally > Vouchers > press F5 (Payment).
    Alternatively, press Alt+G (Go To) > Create Voucher > press 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.
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