TALLY Tcs & excise ENTRY

TALLY Tcs & excise ENTRY

1. TCS & EXECISE
ENABLE TCS & EXCISE BY PRESSING
F11F3 ( STATUTORY & TAXATION)

2. CREATING “TCS tax Ledger”
•Name:-TCS ON TIMBER
•GROUP :-DUTIES & TAXES
•TYPE OF DUTY/TAX :-TCS
•(THEN SELECT appropriate category from list)
•Inventory values are effected :-no
TCS ONLY FOR SALES ; TCS TO BE PAID DIRECTLY ; NO ADJUSTMENT REQUIRED

3. CREATING “Excise” tax Ledger
•Name:-excise @16% (FOR BOTH SALES & PURCHASE)
•GROUP :-DUTIES & TAXES
•TYPE OF DUTY/TAX :-excise
•Inventory values are effected :-no
•In percent of calculation :-16%
(then select “on total sales”)
SAME EXCISE FOR BOTH SALES & PURCHASE; EXCISE TO BE PAID DIRECTLY ;NO
ADJUSTMENT REQUIRED

4. CREATING “Education cess” tax Ledger
•Name:-Education cess@2%
•GROUP :-DUTIES & TAXES
•TYPE OF DUTY/TAX :-excise
•Inventory values are effected :-no
•In percent of calculation :-2%
(then select “SURCHARGE ON TAX”)
SAME EDUCATION CESS FOR BOTH SALES & PURCHASE;
EDUCATION CESS TO BE PAID DIRECTLY ;NO ADJUSTMENT
REQUIRED