Excise Duty :-
what is excise duty of india ?
Central Excise duty is an indirect tax levied on those goods which are manufactured in India and are meant for home consumption. The taxable event is 'manufacture' and the liability of central excise dutyarises as soon as the goods are manufactured.
- Rule of Excise duty:-
- Excise duty Provided in case of menufactring / Production of goods etc.
2. in case of menufacturing Limit of 1 crore Rs. Applicable of Excise duty.
3. Excise duty Exemption of Rs. 1.5 crore.
4. The Rate of Centeral Excise duty 12.5%.
5. Excise Reg. No. is a PAN Based No.
Example :---- If my PAN no. is DJBPK2613A .
and My Excise Reg. No. Made Be DJBPK2613AXM001 It Is A New Reg. No. Of Excise duty
And Old Excise No. Is Befor Time DJBPK2613AEM001 .
Note:- एक्साइज के अंदर मेनुफैक्ट्रर के आलावा एक्साइज डीलर को भी एक्साइज रजिस्ट्रेशन नंबर लेना जरूरी होता है।
>एक्साइज के अंदर डीलर दो तरह के होते है।
- FSD ( First Stage Dealer)
- SSD ( Second Stage Dealer)
6. Excise Dealer it Not Charge Excise Duty And He is Passed on Only Propernate Excise Duty.
7. Excise Return :-
A) Excise menufactrur made be Return To Monthly Return ER-1 .
B) Due Date of Excise Return 10th Of the Next Month.
example :-
{ In case Of month of March Payment --------------31th Of The March Month.
& Return Of Excise Return 10th April. }
8. Excise Return Payment:-
A) Excise Return Payment may Be Online payment Maindatory.
B) date Of Payment Of Excise Duty 6th Of The Next month.
IMPORTANT NOTE:>
{Excise return Will Never Not A revise Of Return एक्साइज की रिटर्न को कभी भी Revise नहीं कर सकते हैं। }
9. Excise के अंदर हमें निम्नलिखित रजिस्टर बनाना पड़ता है।
RG -1 (Stock Register)
इसके अंदर कितना माल बनाया कितना माल बेचा तथा Opning stock था .
कितना closing stock था कितना बैलेंस बचा . इन सब चीजों की डिटेल
इसमैं होती है तथा इसे Duty Stock Account भी कहते है।
EXAMPLE:-----1
Smt Geeta devi Sold For Goods Rs. 10000 to Mr. Sunit Kumar and He Charged Excise Duty @12.5 % . and Vat Rate of 5% & Surcharge will be Charged 5%.
calculate bill Amount and Pass Journal entry.
SOLUTION:------
sale price of goods : 10,000
Add.
12.5 % excise Duty: 1250
A) Excise menufactrur made be Return To Monthly Return ER-1 .
B) Due Date of Excise Return 10th Of the Next Month.
example :-
{ In case Of month of March Payment --------------31th Of The March Month.
& Return Of Excise Return 10th April. }
8. Excise Return Payment:-
A) Excise Return Payment may Be Online payment Maindatory.
B) date Of Payment Of Excise Duty 6th Of The Next month.
IMPORTANT NOTE:>
{Excise return Will Never Not A revise Of Return एक्साइज की रिटर्न को कभी भी Revise नहीं कर सकते हैं। }
9. Excise के अंदर हमें निम्नलिखित रजिस्टर बनाना पड़ता है।
RG -1 (Stock Register)
इसके अंदर कितना माल बनाया कितना माल बेचा तथा Opning stock था .
कितना closing stock था कितना बैलेंस बचा . इन सब चीजों की डिटेल
इसमैं होती है तथा इसे Duty Stock Account भी कहते है।
EXAMPLE:-----1
Smt Geeta devi Sold For Goods Rs. 10000 to Mr. Sunit Kumar and He Charged Excise Duty @12.5 % . and Vat Rate of 5% & Surcharge will be Charged 5%.
calculate bill Amount and Pass Journal entry.
SOLUTION:------
sale price of goods : 10,000
Add.
12.5 % excise Duty: 1250
11,250
Vat Of 5% of 10,250 562.5
Surcharge of 5% Of Vat 512.5 28.125
Total Amount:----------------------------11,840.125
Sunit kumar A/c...................11,480.125
To Sales A/c 10,0000
To Excise Duty 1250
To Out put Vat 562.5
To Out put Ser. 28.125
To Out put Ser. 28.125
EXAMPLE:-----2.
Mr. Ashish kumar Purchase Goods from Priya Rani Which Has Basic Value Of Rs. 13850
Mr. Ashish Charged Vat 12.5 % and Surcharge Of 5% Excise Duty Addition To Basic Value.
Calculate the Bill Amount and Vat & Surcharge Value .
SOLUTION:------
Amount Of Basic Value ----13,850
Include of Excise Duty And
Amount Of Exise 13,850*100/112.5=12,311
13,850-12311= 1538
Amount of Vat 13,850*12.5/100= 1731
Amount Of Ser. 1731*5/100= 86
Total Amount Of Purchase = 15,666
Purchase A/c Dr........12,311
Cenvat credit A/c Dr...1538
Input Vat A/c Dr.. 1947
Input Ser. A/c Dr. 86
To Ashish Kumar 15,666.
Ledger Creation Of Tally Software In Excise Duty:-
Purchase A/c ..................................(under of purchase A/c )
Cenvat cerdit.......................................(under Current Assets)
Input Vat...........................................(under Duties & Taxes> Vat> Input Vat)
Input SerCharge ................................(under Duties & Taxes > Surchare @ 5%)
Ashish Kumar ......................................(Sundry Debtor )
Note :- 1. In The Case Of Sale we can Use Of Excise Duty And Case Of Purchase We Can Use
Cenvat Credit .and Case of PURCHASE Maintain Cenvat Credit Ledger and In case SALES Maintain Ledger Excise Duty Ledger .
2. In Case Of Capital Goods Half Credit Use Same Year And Half Credit Use Of Next Year .
- Registered to be Maintained Excise Return:-
- RG-1 (Stock Register ) For Maintain Day Wise Stock Detail.
- RG 23A Part -2 ( Detail Of Cenvat Credit Of Raw Meterial / Input Details (Cenvat Credit Taken and Utilised )
- 57 A E (Cenvat credit Of Raw Meterial )
- RG 23 C PART -2 (Cenvat Credit Of Credit Goods Detail)
- PLA Personal Ledger Account (Account Current) PLA के अंदर कितनी एक्साइज ड्यूटी हमने जमा कराइ तथा कितनी एक्साइज ड्यूटी हमने Utilised की डिटेल होती है.
- Input Under Excise :-
Input Will Be Benifits Only Three Item .
- Cenvat Credit Of Raw Meterial /Input (RM).
- Cenvat Credit Of Capital Goods .
- Cenvat Credit Of Service Tax.
- Cenvat Credit On Input:-
- In Case Of Raw Meterial / Normal Goods Purchase Are Maintain 100% Cenvat Credit in Same Year Benifits.
- Cenvat Credit Of Raw Meterial
In Case Of Capital Goods Purchasing Case Cenvat Credit 50% Same Year And Remaining 50% Cenvat Credit Of Next Year.(मशीनरी आदि के खरीदने पर हमें मिलने वाला क्रेडिट आधा 50 % इसी साल मई मिल जाता है तथा आधा 50 % अगले वर्ष में मिलता है.
3. Cenvat Credit Of Service Tax
यदि किसी मेनुफैक्ट्रर ने कोई सर्विस ली है और उस सर्विस को गुड्स के प्रोडक्शन या मशीनरी के रिपेयर करने के लिए उसे किया गया है तो उस सर्विस पर यदि कोई सर्विस टैक्स भुगतान किया गया है तो उसका लाभ एक्साइज मैं मिल जाता है. और हमें 100 % सर्विस टैक्स का क्रेडिट उसी साल मैं मिल जाता है.
4 . यदि हमने कोई गुड्स बहार से मांगे है और अतिरिक्त ड्यूटी लगाई गयी है तो उस ड्यूटी का भी हमें इनपुट मिल जाता है।
- Entreis Of Excise :
At The Time Of Purchase:-
Purchase A/c Dr.
Cenvat Credit A/c Dr.
Input Vat A/c Dr.
Input Sercharge A/c Dr.
To Creditor
Fixed Aseets / Expense A/c Dr.
Cenvat Credit On Capital Goods A/c -50%
Cenvat Credit On Reserve On Capital Goods -50%
Input Vat Of Capital Goods -
Input Sercharge A/c
To Vender A/c / Custoomer A/c
At The Time Of Sale Of Goods :-
Debtor A/c Dr.
To Sale
To Excise Duty 12.5 %
To Output Vat
To Out put Sercharge
Note :--Cenvat Credit Of Capital Goods 50% Ledger Maintain Of (Duties & Taxes )
Cenvat Credit Of Credit Cap. Reserve Under (Current Assets)
Excise Duty Under The (Duties & Taxes > Excise )
Cerat stock Item Making Excise Duty Yes Karni Hoti Hai.
Note :---- If Excise Sale And Purchase Making Time Of Diffrent Sale And Purchase In
Excise Sale & Excise Purchase .
CREATE OF VOUCHER :-
ACCOUNTING INFO > VOUCHER TYPE> CREATE > EXCISE SALE AND /PURCHASE>
USE FOR EXCISE DUTY< YES.
STOCK ITEM> CREATE> NAME >TARRIF CLASSIFICATION>ALT+C(FILL DETAIL)
>SET ALTER DETAIL> YES>KG/UNIT>BASIC EXCISE DUTY>12.5%> FINISHED GOODS.
