EXCISE
SETTLEMENT PROCEDURE:-
Open the Bank Payment Voucher having the following fields:
1) E.C.C. No.
2)
RG/Service Tax Setoff Date3) PLA Setoff Date
Select the G/L account where excise payable entries have
been posted. Fill the following Fields:
1) Posting Date: Posting Date of Voucher (DD/MM/YY).
2) RG/Service Tax
Set Off Date: Date up to which the RG credit entries and
Excise Payable entries have to be taken. Normally it is the last date of the
month for which settlement has to be made. 3) PLA Setoff Date: Date up to which the PLA entries have to be taken. Indian Excise law allows the company to deposit the excise amount up to 5th of next month. So in case some PLA amount has been deposited in current month and the amount has to be used for settling the due of last month, then current date needs to be given.
4) E.C.C. No. : ECC no. of location for which excise settlement has to be done. In case we have multiple excisable units then multiple entries needs to be posted. One entry will do the settlement of One Location only.
5) Account Type: Account Type should be G/L Account.
6) Account No. : Excise Payable account for the location.
Click on Payments Tab – Tax Payments – Excise
The following Form will be opened. This will show all the
entries outstanding for settlement up to the date of RG/Service Tax Setoff
Date.
Click on Apply Entries button in the bottom:
Click on Apply Entries button in the bottom:
