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Recording Adjustment Towards Duty Liability (Excise for Manufacturer)

Recording Adjustment Towards Duty Liability (Excise for Manufacturer)

Any existing CENVAT credit can be used to adjust the current CENVAT liability.

To record an adjustment entry for duty liability

  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 Excise duty ledger.
  7. Credit the Excise duty ledger.
  8. Press Enter.
  9. Enter the narration, if required.
    The journal voucher appears as shown below:
  10. Press Enter to save.

Viewing in Return Forms

The journal voucher recorded using the flag Adjustment Towards Duty Liability will be displayed under Payment of Duty on Goods.

Press Enter on Payment of Duty on Goods to view the CENVAT Credit Utilised report.

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