What is Excise Duty ? smmcc gonda

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Excise duty: - Fundamentally, excise duty is a tax levied on domestically produced goods. Generally, it is charged on their production and sale and is also known as CENVAT or Central Value Added Tax. Central Excise duty is an indirect form of taxation and is collected from a customer by a retailer or an intermediary.

1.   Steps- GOT-PRESS F11 AND F3

2.   SET TO YES EXCISE DUTY YES AND ALTER ALSO YES

3.   FILL EXCISE DUTY DETAILS

4.   ALTER EXCISE TARRIF CODE name -excise for sale – IF annual income <1.5 cr not need hsn code if annual income >1.5 you need four digit. if annual income <5 cr you need 6 digit hsn code.

5.   Create some ledger

6.   Sales and excise –duty and tax types of duty –CENVAT-NORMAL

7.   CREAT UNIT LEDGER –NOS

8.   CREATE A GROUP –HP

9.   CREATE STOCK ITEM –LAPTOP

10.               GO TO SALE VOUCHER

11.               YOU CAN MAKE EXCISE SALE

12.               GO TO INVENTORY INFO- VOUCHER TYPE –SALES EXCISE –SALSE

13.               AND THEN GO SALE EXCISE

       GOOD BYE