Ledger Account set up for Excise Duty Part 2

Additional Duty Ledger Account

If additional Excise Duty is applicable you have to create a new ledger account named Additional Excise Duty under the group Excise Duty. At the option 'Method of Calculation' field that appears on mentioning percentage of calculation, select Additional Duty. As already explained, other options are to be entered while creating excise duty ledger account. This duty is calculated as a percentage or part of the excise duty.

Creation of Supplier's/Customer's Ledger

A supplier and customer ledger account has to be created for Excise Duty transactions. The Excise Details option at the Tax Information portion of the ledger creation /alteration screen is to be set as 'yes'. The sub-screen will appear. There you have to enter the following details:

Excise Regn. No. - Here you have to enter the Excise Registration number of the supplier/customer.

Range - Here you have to enter the range under which the supplier/customer's company is registered.

Division - Here you have to enter the Division under which the supplier/customer's company is registered.

Commissionerate - Here you have to enter the name of the Commissionerate.

Nature of Purchase - Here you have to select the appropriate nature of purchase from the list provided.